HYBE’s stock price is reviving after a long time.
On April 7th, HYBE closed at 217,000 won, up 12,000 won (5.85%) from the previous trading day. At one point, it soared to 219,000 won.
It recovered the 190,000 won mark on April 4th and surpassed the 200,000 won mark on April 6th, showing an upward trend for 4 consecutive trading days. It is the first time in 32 trading days that HYBE has closed above the 200,000 won mark since Feb 14th (202,000 won).
HYBE hit the highest price of 421,500 won in November 2021. However, it continued to be sluggish due to the suspension of BTS’ group activities and enlistment-related problems. In October last year, it sank to 107,000 won, the lowest price since listing.
Then, HYBE showed signs of recovery thanks to their business expansion as well as the activities of new groups such as LE SSERAFIM and NewJeans.
Last February, HYBE raised expectations even more when they jumped into the acquisition of SM Entertainment, but soon withdrew.
On April 3rd (local time), BTS Jimin‘s solo debut served as a huge upward momentum.
The title track “Like Crazy” of Jimin’s debut album “FACE” topped Billboard’s main single chart “Hot 100”. Jimin is the first Korean solo artist to top the “Hot 100”. Previously, Psy ranked second on the chart for 7 weeks.
Experts said that although BTS temporarily suspended group activities, Jimin proved enough influence as a soloist. They also predicted that investment sentiment seems to have improved through this.
In addition, the debut news of the first boy group of HYBE’s label KOZ Entertainment, to which ZICO belongs, is believed to have had a positive impact on the stock price.
In the future, if profits are improved through the solo activities of BTS’ other members as well as comebacks and concerts of other groups in HYBE, the upward trend of HYBE’s stock price is expected to gain further momentum.
Source: Daum
