Softbank touches 52-week-low in wake of DiDi, Arm deal negativity
Dec. 06, 2021 10:55 AM ETSoftBank Group Corp. (SFTBY)NVDA, DIDIYBy: SA News Team1 Comment
- Softbank (OTCPK:SFTBY) shares dipped into the red, Monday, as the Japanese tech conglomerate continues to deal with declining values in some of its leading investments.
- Softbank (OTCPK:SFTBY) hit a 52-week-low of $22.16 a share in early trading, Monday. The company was coming off of a day of losses, Friday, led by Chinese ride-sharing leader DiDi Global (NYSE:DIDI), which said it would delist its shares from the New York Stock Exchange and move its listing to Hong Kong. Softbank's Vision Fund own approximately 21.% of DiDi (DIDI).
- As if that wasn't enough, the U.S. Federal Trade Commission has sued to block Nvidia's (NASDAQ:NVDA) proposed $40 billion acquisition of British chip-technology company Arm, which Softbank owns.