- David Gibson of Astris Advisory Japan told CNBC on Thursday>$4
Softbank will reap a roughly $10 billion profit from its investment in DoorDash's IPO>$4. - "That offsets the disaster of WeWork only a few quarters ago," the chief investment advisor said. Softbank lost at least $4.7 billion last year by investing in WeWork>$4 after the shared-workspace company's IPO failed.
- Shares of DoorDash dipped after the Thursday opening bell, but the company is still worth roughly $52 billion. Meanwhile, Softbank shares gained as much as 18% on Thursday, hitting an all-time intraday high of 8,900 yen.
- Visit the Business Insider homepage for more stories>$4.
$4's roughly $10 billion profit from its investment in $4 will offset the fund's losses from WeWork's failed public debut, said Astris Advisory Japan's David Gibson.
The chief investment advisor $4 said that Softbank invested roughly $2 billion in the
"They're going to book 10 billion, I mean that offsets the disaster of WeWork only a few quarters ago," Gibson said. Softbank $4 after the co-working company's IPO failed.
$4 closed at $189.51 after its first day of trading, up 86% from the IPO price of $102. The food-delivery company $4 but is still worth roughly $52 billion. Meanwhile, Softbank shares gained as much as 18% on Thursday, hitting an all-time intraday high of 8,900 yen.
"Suddenly Masa goes from losing to being hero very quickly," Gibson added, referring to Softbank CEO
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Softbank's
"I think what the market's realizing today is there's more behind it," Gibson said of SoftBank. "There's more companies coming out of the vision fund that will IPO in the coming quarters, that actually end up being positive for the Vision Fund's investment valuation."
A number of SoftBank-backed companies are set to IPO in the coming quarters, including South Korea's top online retailer, $4.