Shares of SoftBank Group Corp rose 3% on Tuesday to reach highs last seen during the dot-com bubble, as massive buybacks help shrink the group's persistent discount.
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato
Shares were priced at 6,100 yen in morning trading in Tokyo, hitting levels last seen in early 2000, when speculation on internet stocks saw prices surge before crashing and wiping out most of SoftBank Chief Executive Masayoshi Son’s wealth. With around 10 million SoftBank shares being shorted “we are seeing a typical short-squeeze,” said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon Shares Pass $3,000, Joining Other Tech Stocks Hitting Record HighsShares in Amazon broke the $3,000 barrier to finish Monday’s trading session at an all-time record of $3,057.04, leading a wave of tech stocks at record highs. The tech-heavy Nasdaq Composite…
Read more »
Julia Roberts shares rare photo with husband Daniel Moder on their 18th anniversaryJulia Roberts marked her 18th anniversary with husband Daniel Moder, posting a rare couple shot on Instagram hashtagged heckyes.
Read more »
Stacey Solomon shares stunning house transformation as she prepares for visitorsThe Loose Women star returned to Instagram today to show her followers some of the incredible changes she's made to her home
Read more »
Julia Roberts shares incredibly rare picture with husband Danny Moder as they mark special anniversaryJulia Roberts shares incredibly rare picture with husband Danny Moder as they mark special anniversary
Read more »
Peter Andre shares pride in doctor wife Emily as he marks NHS anniversaryHe recently revealed that his medic wife had been forced to self-isolate in March after experiencing coronavirus symptoms and he will join the nation in thanking frontline stars later
Read more »
Bradley Walsh shares message Tommy Cooper sent him from beyond the graveBradley Walsh says two weeks after Tommy Cooper died he gave him a special message that left The Chase star unable to sleep for two weeks
Read more »