You are here: Home » International » News » Companies
Business Standard

SoftBank unmasked as 'Nasdaq whale' that stoked tech rally: Report

Softbank has been snapping up options in tech stocks over the past month in huge amounts, contributing to the largest trading volumes in contracts linked to individual firms in nearly 10 years

Topics
SoftBank | Nasdaq | Tech firms

Agencies 

Softbank
The investment powerhouse has made huge bets on tech start-ups through its $100-bn Vision Fund

is the “whale” that has bought billions of dollars’ worth of US equity derivatives in a move that stoked the fevered rally in big tech stocks before a sharp pullback on Thursday, Financial Times reported on Friday, citing sources.

According to people in the know, the Japanese conglomerate has been snapping up options in tech stocks over the past month in huge amounts, contributing to the largest trading volumes in contracts linked to individual in nearly 10 years.

One banker, Financial Times said, described it as a “dangerous” bet. The aggressive move into the options market marks a new chapter. The investment powerhouse has made huge bets on tech start-ups through its $100-bn Vision Fund. After the Covid-19 market tumult hit those bets hard, the firm established an asset management unit for public investments using capital contributed by its founder Masayoshi Son.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, September 05 2020. 02:46 IST
RECOMMENDED FOR YOU