JYP’s Stock Soars After Stray Kids Contract Renewal
The news of Stray Kids' contract renewal has led to a sharp rise in JYP Entertainment's stock price
As of 3:30 PM on July 18th, JYP Entertainment’s (JYP) stock price was recorded at 57,900 won, up 2,100 won (3.76%) from the previous day.
Throughout the morning, JYP’s stock price was running low around the 55,000 won mark, but it rebounded near 58,000 won after the announcement of Stray Kids’ contract renewal at 2 PM.
Recently, JYP faced instability due to the contract renewal issue of its leading artist, Stray Kids. However, with the announcement that all eight members have renewed their contracts, the risk has been mitigated, leading to an upward trend.
The company emphasized the strong relationship, stating, “Stray Kids, who showcase unique music and performance power in the global music market, and JYP, which has led and planned their growth, have signed the contract renewal based on deep trust, envisioning a great future.”
Stray Kids, who debuted in March 2018, have been loved domestically and internationally as a self-producing group that works on their own music for each album. They achieved their first No.1 on the Billboard 200 chart with their mini-album “Oddinary” in March 2022 and have secured four consecutive No.1 spots on the chart since then.
Furthermore, they have demonstrated their status as a top global artist by entering the Billboard Hot 100 with their mini-album “Rock-Star” title track “#LALALALA” last November and their digital single “Lose My Breath” last May.
Recently, they showed overwhelming popularity on the global stage, meeting about 70,000 fans as the headliner at “I-Days” in Milan, Italy and “British Summer Time Hyde Park” in London, UK.
They are set to make a comeback with their new mini-album “ATE” on July 19th and will continue their solo concerts worldwide as part of their stadium and dome-scale world tour “dominATE” starting August 24th. Confirmed locations for the tour include Seoul, Singapore, Melbourne, Sydney, Kaohsiung, Tokyo, Manila, Macau, Osaka, Bangkok, Jakarta and Hong Kong, with plans for further performances in Latin America, North America, Europe and more.
