In today’s briefing:
- Softbank Group – Tough Week for VF as Public Portfolio Falls $6bn over Two Days
Softbank Group – Tough Week for VF as Public Portfolio Falls $6bn over Two Days
- Valuation losses in the public portfolio have increased by $6bn over two days on weakness at Coupang, Grab, DoorDash and WeWork. Total losses for the quarter stand at $17bn.
- With Alibaba shares still weak, NAV/share has moved decisively below ¥10,000/share and is back to where it in May/June 2020 when tech was first rebounding from the Covid shock.
- The discount to NAV stands at 49% but is likely to expand when markets in Japan have a chance to respond to how stocks traded in the US on Friday.
Related tickers: Softbank Group (9984.T)
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