Anonymous ID: 110b6b Nov. 13, 2022, 6:05 p.m. No.17762541   🗄️.is đź”—kun   >>2653 >>2730

SoftBank Falls over 10% After Loss and No New Buyback Program

 

SoftBank Group Corp. shares plunged as much as 12% Monday in its biggest intraday drop since the outbreak of the pandemic in early 2020, after the company failed to announce a widely-expected stock buyback. The company’s core Vision Fund segment posted a $7.2 billion loss in the July-September quarter, following a record 2.33 trillion yen ($17 billion) loss in the preceding period, as sliding startup valuations force the world’s biggest technology investor to go into defensive mode and virtually halt investments. SoftBank has been grappling with declines on its portfolio of more than 400 investments in both public and private tech companies around the world, which includes China’s SenseTime Group Inc., US food delivery firm DoorDash Inc. and Indonesian ride-hailing and e-commerce firm GoTo Group. Cumulative returns on SoftBank’s Vision Fund and Latin America portfolio plummeted from a gain of $56 billion a year ago to an overall loss of $1.5 billion in its most recent report. SoftBank’s stock price surged in the early weeks of the current quarter as the Tokyo-based company raced to complete two share repurchases: a 1 trillion yen buyback program announced last year and a 400 billion yen program announced in August. The aggressive pace of the buybacks spurred expectations of a fresh injection and speculation that billionaire founder Masayoshi Son was planning to lead a buyout to take the company private.

https://www.bnnbloomberg.ca/softbank-falls-9-after-loss-and-no-new-buyback-program-1.1845771

https://www.marketwatch.com/investing/Stock/9984

 

FTX investment will be written off by SoftBank to zero source

https://techstory.in/ftx-investment-will-be-written-off-by-softbank-to-zero-source/