FAANG is an acronym commonly used to describe the 5 biggest tech stocks: Facebook, Apple, Amazon, Netflix and Google. These are big ticket items to say the least.
In an unusual turn of events last SoftBank (who we’ve mentioned previously) was found to be holding massive Call positions in US stocks, especially tech related equities. To the dismay of their doubters they are up an estimated $4Bn on their positions.
Gains aside, their play here seems more the prerogative of a hedge fund than an investment group. If you’ve read previous article this drastic pivot in business practice will come as no surprise. However SoftBank’s share price has been jubilant on the news and income amassed.
