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HYBE’s Stock Price Plummets: Will the Company Recover?

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HYBE’s stock price collapsed below $145.32 during the day.

According to the Korea Exchange on the 26th, HYBE’s stock price plummeted to 199,800 won ($145.17) during the day, falling below the 200,000 won ($145.32).

Min Hee Jin, the CEO of ADOR, who conflicts with HYBE, will hold an emergency press conference at the Korea Conference Center in Gangnam, Seoul, on the afternoon of the 25th. 

HYBE had recovered the 200,000 won ($145.32) level last month and maintained the early 200,000 won ($145.32) range for about a month. However, due to the friction with CEO Min Hee Jin of ADOR, the stock price has been on a downward trend for the past three days.

HYBE immediately recovered to the 203,000 won ($147.50) level after the collapse of the 200,000 won ($145.32). However, as CEO Min Hee Jin claimed a close relationship with NewJeans through a press conference and media, if the conflict over the management rights controversy intensifies, there is also a possibility of NewJeans leaving HYBE, so the stock price decline is expected to continue for the time being.

Meanwhile, HYBE’s stock price plummeted by 7.8% on the 22nd when it was revealed that HYBE had exercised its audit right against the management team, including ADOR’s CEO, Min Hee Jin. It also fell by 1.2% to 210,000 won ($152.58) on the 23rd. Although it seemed to have stabilized after a successful rebound, the stock price fell again by more than 5% after Min Hee Jin’s press conference, leading to the collapse of the 200,000 won ($145.32) mark during the day.

joynews24
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