SoftBank Group Shares Plunge Most Since 1998
- Stock rout erases $15 billion of SoftBank’s market value
- Turmoil comes as Masayoshi Son prepares big AI investment push
A SoftBank store in Tokyo.
Photographer: Toru Hanai/BloombergThis article is for subscribers only.
A stock rout in Japan wiped out $15 billion of SoftBank Group Corp.’s value on Monday, after the company’s biggest single-day fall since 1998.
The technology giant’s stock fell 19%, the worst performance since SoftBank listed on the Tokyo Stock Exchange in 1998. The stock has now extended its decline for the September quarter so far to 38%, in line to be the biggest such drop since 2001.