The impact of internal strife is severe “HYBE’s stock price falls to 180,000 won range after 1 year and 2 months”
HYBE's stock price has finally dropped to the 180,000 won range
As of 10:20 AM on May 21st, according to the Korea Exchange, HYBE is trading at 188,400 won, a slight drop of 1.46% (2,800 won) compared to the previous trading day. This marks the third consecutive trading day of decline, and it is the first time since March 7th of last year that HYBE’s stock price has fallen below the 190,000 won range.
The ongoing decline in HYBE’s stock price is attributed to the fallout from the conflict with its subsidiary ADOR, which has persisted for a month.
Currently, both parties are awaiting the outcome of the “injunction against exercising voting rights” filed by ADOR CEO Min Hee-jin against HYBE. This lawsuit aims to prevent HYBE, the largest shareholder (holding 80% of ADOR’s shares), from exercising its voting rights at ADOR’s extraordinary general meeting scheduled for May 31st. The agenda includes the replacement of ADOR’s management, including CEO Min.
Typically, the court’s decision comes within two weeks after the hearing, so the decision is expected before the general meeting. The court concluded the hearing on May 17th, stating, “Both sides should submit the necessary documents by May 24th, and we will make a decision before May 31st after reviewing them.“
