TradingKey – OpenAI won’t IPO in 2026, causing SoftBank’s stock price to plunge 12% and completely erase last week’s gains.

On Monday (September 14), SoftBank Group (TSE: 9984) saw its share price suffer a heavy blow after the market opened today, with intraday losses extending to 13% at one point and approaching the 5,600 yen ($36.36) mark during morning trading, erasing last week’s strong gains in one fell swoop. As of press time, SoftBank’s stock decline narrowed to around 10%, trading at 5,853 yen.

Last Monday (September 7), SoftBank’s share price jumped higher from near 5,600 yen and continued to rally, surging to 6,900 yen on September 9 for a gain of 23%. Over the following two days, SoftBank’s stock price pulled back somewhat,…