YG Entertainment’s stock price failed to take advantage of BLACKPINK’s comeback.
YG Entertainment closed at 58,300 won on the afternoon of August 19th, down 3,000 won (4.89%) from the previous trading day.
YG Entertainment, whose stock price exceeded 60,000 won on August 12th, fell back down to 50,000 won in a week.
Among the big entertainment agencies, YG’s decline was the largest. HYBE fell 1,500 won (0.80%) to 186,500 won, JYP fell 1,000 won (1.64%) to 60,000 won, and SM dropped 1,700 won (2.42%) to 68,600 won.
On the same day, YG Entertainment announced that its main artist, BLACKPINK, made a full album comeback, but its stock price still fell.
BLACKPINK pre-released “Pink Venom” from their second full album today, and will release the full album “BORN PINK” on September 16th. The album has already surpassed 1.5 million pre-orders a week after pre-orders began. Starting in October, BLACKPINK will begin their world tour, starting with Seoul, followed by North America, Europe, Asia, and Oceania.
Lee Nam-soo, a researcher at Kiwoom Stocks, said about YG Entertainment that BLACKPINK’s comeback is expected to influence an upcoming growth in YG’s stock price.
He said, “Promotions will be expanded in many ways, including albums and contents in the 3rd quarter, concerts and MDs from the 4th quarter to the 1st half of next year,” adding, “In particular, the world tour, which starts in October, will have up to 1.5 million audiences, three times the size of BLACKPINK’s world tour (500,000) in 2019, which will improve YG’s profitability at the same time,” he predicted.
Source: joynews24
