SoftBank Group shares plunge 10.8% as credit risk hits four-year high
FROM THE WIRE · FINANCE.YAHOO.COM
This article first appeared on GuruFocus. SoftBank Group (SFTBY) shares tumbled 10.8% to 3,549 yen at Friday's November 6 close in Tokyo, as the cost of insuring its debt jumped to the highest level in four years. The shares have lost close to half their value since early…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishRising default insurance costs and a steep share slide weigh on a group heavily exposed to OpenAI and Arm.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Shares fell 10.8% to 3,549 yen at Friday's November 6 close in Tokyo.
- 02The five-year credit default swap spread rose as high as 466 basis points, the widest since October 2022.
- 03The group holds a $64.6 billion stake in OpenAI and 90% of Arm.
- 04OpenAI has pushed its IPO to 2027, and SB Energy's listing has reportedly slipped to December or later.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
SoftBank Group Corp.3,549.00 JPYMarket closedtoday -10.83%Negative SoftBank Group Corp.11.48 USDMarket closedtoday +2.78%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets