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Because Yahoo doesn't know what it is, and neither does anybody else. At the moment, it seems to be mostly an online newspaper.
It started out as an internet search engine, but in common with all the other early search engines it was utterly useless. (And yes, I was a user in those days, insomuch as you can 'use' something that doesn't work.) Then Google came along and that was the end of Yahoo.
Somehow, it has struggled on ever since, a zombie company whose continued existence is not far short of a miracle. It is a tribute to the people at the top of Yahoo that they've kept it going for so long. But what does it sell? What is its product? We know what Google sell (satnav for the internet), and Facebook (gossip and self-inflicted misery), and Ford (cars), and Samsung (phones and stuff like that), and CNN (news).
If Yahoo was a startup today, nobody would invest. It fails the "What's your product?" question.
