SoftBank’s Big Moves and Tesla Gets Dissed 📈

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SoftBank’s Big Moves and Tesla Gets Dissed

SoftBank

SoftBank reportedly bought billions of dollars in tech stock options in August, and some believe that these purchases led to the tech frenzy last month. Big tech stocks soared in August then experienced a major selloff on Thursday and Friday. Regulatory filings show that SoftBank bought nearly $4 billion in companies like Amazon, Facebook and Microsoft in the past month. The company allegedly also bought roughly $4 billion in call options in these companies tied to its holdings and hoped to profit from the run up in stocks and unload its position on other parties.

SoftBank’s stock price fell nearly 5% early Monday as investors became uncomfortable with the reports.

Etsy

Etsy’s stock price went up more than 5% in after-hours trading Friday after it was announced as a new member of the S&P 500. The move grabbed headlines partially because of the e-commerce company’s inclusion in the index, but more so because Tesla is still not a member of the index. Tesla has been in the headlines as much as any stock this year and has one of the ten highest market caps of all-American companies. Despite all of this, Etsy was added to the S&P 500 and Tesla continues to be excluded.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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