“Narco-Saints” right after “Woo Young Woo”? This company’s stock price is rocketing after scoring a hit
“Narco-Saints,” which started at 8th place on Netflix’s global TV category, rose two notches to 6th place as of Sep 12th.
Stock prices of the production company Contentree Joongang are gaining ground as Netflix’s new drama “Narco-Saints” heralds a successful launch. Depending on the series’ future success, some predict that this company’s stock price could show similar volatility to AStory, which has more than doubled since the success of “Extraordinary Attorney Woo.”
The stock price of Contentree Joongang rose 5.55% to close at 49,900 won on Sep 13th. The drama “Narco-Saints”, which was released during the Chuseok holiday, has seen an early success after ranking first in the TV program category in Korea, Hong Kong, Singapore, and Vietnam, as well as entering the top 10 in the global rankings. Currently, SLL Joongang, a subsidiary of Contentree Joongang, holds a 100% stake in “Narco-Saints”’s production company Perfect Stock Film.
Depending on “Narco-Saints”’s future global ranking, it is observed that the stock price of Contentree Joongang could continue to rise. Rising Netflix’s contractual ranking does not immediately generate profits for the production company. However, it is explained that the stock price reflects expectations that more works will be provided on better terms in future content contracts. Currently, “Narco-Saints”’s ranking in the Tv Show category is gradually rising in North America, a measure which determines one’s Netflix success.
Kim Hoe-jae, a researcher at Daishin Securities, said, “Narco- Saints is ranking eighth in Netflix’s global rankings,” and predicted, “In addition, the production team will provide various contents to many platforms, which will lead to a rapid improvement in profits.”
However, it is advised for investors to pay attention as there is a possibility of excessive stock price fluctuations in a short period of time. “Extraordinary Attorney Woo” started broadcasting at the end of June and continued to be a hit with the highest ratings and the hottest topic, while its production company AStory stock price soared from 16,000 won at the end of June to 35,000 won in mid-July. However, AStory closed at 24,900 won today as it continued to decline.
Source: Daum
