SoftBank stock price tanks over 14%; erodes nearly $50 billion in market cap over two days
Japan’s SoftBank stock price fell over 13 per cent on Tokyo Stock Exchange on Wednesday, November 5, following a Wall Street sell-off driven by concerns over the high valuations of such firms.
SoftBank has wiped out almost $50 billion in market value over the past two days, with its shares falling more than 7 per cent on Tuesday as well.
However, SoftBank stock has proven to be a multibagger stock as it has surged nearly 206 per cent in just six months and 154 per cent in one year.
What’s behind the plunge?
SoftBank has developed a diverse portfolio of AI-focused investments across infrastructure, semiconductor, and application segments.
The company holds a controlling stake in U.K.-based Arm Holdings, whose chip designs are integral to…
