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SoftBank Takes $10-Billion Hit

Video Credit: Wochit News
Published on September 8, 2020 - Duration: 00:42s

SoftBank Takes $10-Billion Hit

On Tuesday, SoftBank stock took a hit.

SoftBank lost 7.7% over two days following reports that the conglomerate had been making huge and risky bets on tech stocks.

The losses have wiped roughly $10 billion off the market value of SoftBank.

SoftBank shored up its investment in Amazon, Microsoft, and Netflix.

The Wall Street Journal said that the options generated an exposure of about $50 billion.

The size of the bets means that SoftBank (SFTBF) CEO Masayoshi Son is now being called a "whale.

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