SoftBank value slumps as investors fear it may be the ‘Nasdaq whale’

Japanese tech investor loses £7bn after reports say bank was behind last week’s stock surge

The value of the Japanese technology investor, SoftBank, slumped by about £7bn on Monday after shareholders were spooked by reports the company has been making huge bets on US technology firms listed on a US stock exchange.

Over the weekend SoftBank, which is best known for investing in early stage technology businesses, was reported to be the so-called “Nasdaq whale” whose massive punts were behind US technology stocks moving to record highs during, before slipping back at the end of last week.

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