SFTBY - SoftBank denies being Nasdaq whale behind tech rally; buys stake in Norwegian edtech

Last month, Financial Times reported that SoftBank ([[SFTBF]],[[SFTBY]]) was scooping up "huge amounts" of tech stock options and called the company the "Nasdaq whale" fueling the tech rally.SoftBank exec Rajeev Misra is now dismissing those reports, telling Bloomberg, "Nobody buying $10 billion of Nasdaq over a few weeks is going to move the Nasdaq. We’re not even a dolphin, forget being a whale."Misra says SoftBank will have about $100B in cash once the $40B sale of Arm to Nvidia closes.The exec admits SoftBank has bought "a few billion of other stocks" to diversify away from Alibaba and calls the move a "liquidity-management strategy."In July, SoftBank sold another $2.2B of its Alibaba stake, bringing the total sale up to $13.7B this year.In other SoftBank news, the company has invested $215M for a 9.7% stake in Norwegian edtech Kaboot, which creates game-based learning through quizzes for both traditional and virtual students and corporate training or presentations.Previously:

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SoftBank denies being Nasdaq whale behind tech rally; buys stake in Norwegian edtech