Home Topics Business Softbank shares soar to two-decade highs on earnings from the Vision Fund

Softbank shares soar to two-decade highs on earnings from the Vision Fund

© Reuters.

From Gina Lee

Investing.com – Shares in Japanese conglomerate Softbank (OTC 🙂 Group Corp. (T 🙂 rose to a two-decade high on Tuesday as investors digested the record profits reported by their Vision Fund unit the day before.

Softbank stock was up 3.27% to JPY 9.795 ($ 92.91) by 11:59 p.m. (3:59 p.m. GMT). They had risen to JPY 10,000 apiece at the start of the session.

The company announced on Monday that the value of its portfolio has risen again after the initial public offering of startups like Opendoor. Other large portfolio companies preparing to take advantage of record-breaking capital raising and listing on the market are hail-fighting firms Didi and Grab.

Softbank “effectively owns the most lucrative portfolio amid an ongoing retail IPO frenzy,” Jefferies (NYSE 🙂 analyst Atul Goyal said in a note.

In the foamy markets, the value of SoftBank’s assets, or “golden eggs” as they were called by Chief Executive Officer Masayoshi Son, rose by $ 21 billion to $ 221 billion in the six months to the end of December.

“The explosion in market liquidity over the past nine to ten months has played a huge role, and we believe SoftBank’s success is closely related to future US technology trading,” said Kirk Boodry, analyst at Redex Research, in a Note.

Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media assumes no liability for any loss or damage caused by reliance on the information contained on this website such as data, offers, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets. This is one of the riskiest forms of investment possible.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest articles

What should you do with your stocks if the stock market crashes?

When the stock market collapses, your stomach can reach your shoes too. Watching all that money go away at once can be scary...

From Universal’s massive Q2 to Spotify overtaking Netflix: it’s MBW’s weekly roundup

Welcome to Music Business Worldwide's Weekly Roundup - this is where we make sure you hear about the five biggest stories that made our...

3 ways to practice radical kindness with your co-workers

Good leaders know they need to be friendly to employees. There is no way around it in 2021 as the pandemic redefines what...

Your checkout experience is essential to ecommerce growth – how Shopify Plus can help

by Sean Richards, VP of Strategy & Partnerships for Wins The customer experience is always paramount when...