SoftBank's $1B Block Sale Is Causing Coupang's Meltdown

SoftBank Group Corp SFTBY SFTBF Vision Fund's block trade sale worth $1 billion on March 9 triggered Coupang Inc CPNG share's recent meltdown.
SVF Investments (UK) Ltd sold 50 million Coupang shares for $20.87 per share.
Coupang's shares closed at $22.70 on March 9 and $18.94 on March 10.
Also Read: South Korean E-Commerce Company Coupang Files IPO
SoftBank is Coupang's largest shareholder with a 29% stake, Bloomberg reports.
SVF sold 57 million shares for $29.685 per share on September 14.
Recently Goldman Sachs Group Inc GS marketed a block of 50 million shares in Coupang, Bloomberg notes.
Benzinga had spotted these Bearish Whale Trades on March 11.
Price Action: CPNG shares are down by 2.76% at $16.94 on Monday.