SoftBank continued its grim run on Wednesday when its shares fall by 5 per cent in the afternoon trade. The slump down spree has wiped out around $15 billion from the company’s market capitalisation. The investors are citing the exposure to the US tech stocks that are slipping down.
The shares have declined close to twelve per cent, as per sources, made investments in equity derivatives adhering to tech firms.
Masayoshi Son, the chief of the Japanese conglomerate, stated last month that the bank would put cash by selling off its assets in the public stocks. However, the convoluted transaction had triggered jitters in investors.