SoftBank's robotics arm said on Monday it will bring a food service robot developed by California-based Bear Robotics to Japan as restaurants grapple with labour shortages and a new socially distanced norm as a result of the novel coronavirus.
On Tuesday, SoftBank stock took a hit. SoftBank lost 7.7% over two days following reports that the conglomerate had been making huge and risky bets on tech stocks. The losses have wiped roughly $10 billion off the market value of SoftBank. SoftBank shored up its investment in Amazon, Microsoft, and Netflix. The Wall Street Journal said that the options generated an exposure of about $50 billion. The size of the bets means that SoftBank (SFTBF) CEO Masayoshi Son is now being called a "whale.
Japan's SoftBank Group Corp. bought $4 billion of shares in tech companies and another $4 billion of call options. Business Insider says the purchase is tied to roughly $50 billion in tech stocks, Regulatory filings showed Softbank's tech-stock buying activity. The filings did not show the options purchase. According to the Wall Street Journal Softbank sold the call options at a higher price.