This Company Made $6.1 billion in 3 Months
SoftBank's share price is up after the Japanese conglomerate reported a profit of $6.1 billion in the 3rd quarter of 2020: "Japan’s SoftBank Group Corp on Monday reported $6.1 billion in quarterly profit as a broad upswing in tech valuations brought its mammoth Vision Fund back into positive territory". In Q3 2019, the company lost $6.4 billion. primarily due to the inability of WeWork to work, financially! In this year, category-kings like Chinese online real-estate broker Beike Zhaofang, a Vision Fund 2 investment, are leading the party and the associated rally.
Uploaded files:At September-end, SoftBank held positions worth $16.8 billion in stocks including Amazon.com Inc, Google parent Alphabet Inc and Facebook Inc.
Chief Executive Masayoshi Son has been parking excess cash from asset sales in tech stocks and derivatives in at attempt to capitalise on an uplift in valuations in the sector.
The fair value of SoftBank’s options and futures positions was $2.7 billion at the end of September.
