SoftBank Hits 20-Year High as Investors Embrace Defensive Stance
- SoftBank has been cutting deals to sell assets, pare debt load
- Speculation persists Masayoshi Son is prepping a mega deal
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SoftBank Group Corp. shares climbed to a new 20-year high as investors rally behind founder Masayoshi Son‘s more cautious strategy of selling assets, paring debt and buying back shares.
The Tokyo-based company’s stock gained more than 3% to 7,244 yen, the highest level since March of 2000 in the midst of the dot-com boom. The stock had already hit several two-decade highs in the second half of this year after a record plunge in March with the coronavirus pandemic.