Posted inAT+

Why Softbank’s winning streak will be shortlived

TOKYO – Maybe Masayoshi Son can walk on water after all. In a May conference call with investors, the SoftBank billionaire made the kind of God-complex headlines CEO’s tend to avoid.

By comparing himself to Jesus Christ – another visionary who he claimed was misunderstood – Son became the target of social media scorn and ridicule. Bears piled on, selling SoftBank’s shares with unholy ferocity for months.

Yet Son is having the last – or at least the latest – laugh as SoftBank’s stock prices have shot back toward the heavens. SoftBank has surged 130% since a March low brought on by WeWork and other big bets going sideways, with a touch of coronavirus panic tossed in.

Many of Son’s biggest plays in recent years have been on the sharing economy – including Uber and Grab – that are now being ravaged by the pandemic.

But as SoftBank walks on water with investors again, it’s wise to recall the depths of potential trouble below the surface.

Sign In

We've recently sent you an authentication link. Please, check your inbox!

Sign in with a password below, or sign in using your email.

Get a code sent to your email to sign in, or sign in using a password.

Enter the code you received via email to sign in, or sign in using a password.

Subscribe to our newsletters:

%d bloggers like this: