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).
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.
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