Softbank Fund Sheds Guardant Shares as Other Investments Drubbed

Softbank Vision Fund shed 4.9 million shares of high-flying Guardant Health Inc. as the fund’s other investments faced valuation and regulatory turmoil. The Guardant shares were sold for $77 a piece on Wednesday, according to a Friday filing. That’s below the cancer-testing company’s record-high close of $110.30 in August, but still a hefty hike from last year’s $19 initial public offering price. The fund remains Guardant’s largest holder with more than 20 million shares, according to data compiled by Bloomberg.

Source:https://www.bloomberg.com/news/articles/2019-09-14/softbank-fund-sheds-guardant-shares-as-other-investments-drubbed?srnd=premium-europe

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