In this video, I will be talking about SoftBank and the recent sale of over 19 million shares of SoFi Technologies (SOFI 2.25%), and why you should not be worried.
- SoftBank reported a $21 billion quarterly loss on its Vision Fund and was forced to sell some shares.
- Last week, Softbank sold 19,565,044 shares of SoFi Technologies. It still holds over 60 million shares, but it may not be done selling.
- The selling has less to do with how well or badly SoFi as a company is doing and more to do with the financial situation SoftBank is in.
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*Stock prices used were the closing prices of Aug. 12, 2022. The video was published on Aug. 14, 2022.