Investments

SoftBank bails on $300 million investment in dog-sitting company Wag

SoftBank Group CEO Masayoshi Son
SoftBank Group CEO Masayoshi Son on Nov. 6. Photo: Kazuhiro Nogi/AFP via Getty Images

SoftBank Vision Fund is bailing on Wag, the dog-walking and dog-sitting company in which it invested $300 million in early 2018.

What's happening: SVF will sell its shares back to the company for an undisclosed amount, and give up its board seat.

A record amount of money has been pulled out of stocks in 2019

Data: ICI; Chart: Axios Visuals

Traders still don't trust the stock market's run and are moving money out of equities at a historic level, despite a 25% year-to-date gain for the S&P 500.

What's happening: Data from the Investment Company Institute shows money has been pulled out of equity mutual funds and ETFs in every month this year except January.