FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato
Shares were priced at 6,100 yen in morning trading in Tokyo, hitting levels last seen in early 2000, when speculation on internet stocks saw prices surge before crashing and wiping out most of SoftBank Chief Executive Masayoshi Son’s wealth. With around 10 million SoftBank shares being shorted “we are seeing a typical short-squeeze,” said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.
The bubble couldn't last long. Let's wait and see.
The “bubble” is WAY bigger than SoftBank’s 👀
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