Happy Anniversary Marissa! Yahoo Stock Hits 5-Year High

Marissa Mayer's second year as Yahoo CEO got off to a good start with the company's stock hitting a five-year high.

Yahoo topped $29 a share in early trading Wednesday, an increase of more than 8.5% on the day, following the company's earnings report on Tuesday. The stock has now nearly doubled from its closing price of $15.65 a share on July 16, 2012, just before Yahoo named Mayer as its new CEO

Wednesday's stock increase — like much of the stock's gains over the past year — have less to do with in turning around Yahoo's business than the success of the Chinese ecommerce company Alibaba