(Bloomberg) — SoftBank Group Corp. shares tumbled in Tokyo trading after reports that the Japanese conglomerate made substantial bets on equity derivatives amid the surge in technology stocks.SoftBank shares dropped as much as 5.4%, the most on an intraday basis since April. The stock had gained 33% this year before Monday.The Financial Times, Wall Street Journal and Zero Hedge reported that SoftBank was making massive bets on technology stocks using equity derivatives. The FT labeled SoftBank the “Nasdaq whale” that “stoked the fevered rally in big tech stocks,” though it didn’t include details of any trading. The FT later reported …read more
Source:: Yahoo Finance
