The day after Netflix’s highly anticipated release of ‘Squid Game 2’ on Friday, stocks related to the series saw a significant drop.
As of 9:20 AM that morning, shares of Artist Studio had fallen 26.68% compared to the previous day’s close, while shares of Artist United had dropped 23.98%.
Both Artist Studio and Artist United are companies where Lee Jung Jae, the lead actor in both seasons of Squid Game, holds a major stake. As a result, these stocks are closely tied to the series’ success, and the lukewarm reception of Squid Game 2 seems to have had an immediate negative impact on their performance.
WYSIWYG Studio, responsible for the visual effects in Squid Game 2, also saw a 20.00% drop, while its industry peer, Dexter, was down 18.59%. Showbox, a major investor in the production company Siren Pictures, plunged 14.97%, reflecting investor disappointment following the series’ release.
Squid Game 2 premiered globally on Netflix on Thursday. Despite the sky-high expectations that followed the massive success of Season 1, the series has drawn harsh criticism from both international media outlets and domestic viewers.
International media outlets have generally criticized Season 2. The New York Times wrote, “Squid Game Hits a Red Light in Season 2,” while USA Today described it as “still violent but more disappointing than shocking.” The Guardian delivered a scathing review, claiming, “too many episodes dragging its heels extremely painfully.”
Domestic viewers have been mostly underwhelmed by the series, with many feeling that it falls short of the standard set by Season 1. One key point of criticism has been the performance of T.O.P (Choi Seung Hyun), a former K-pop group Big Bang member. His exaggerated acting style has drawn comparisons to “a student overly immersed in a rap battle,” with some viewers saying it broke the show’s immersion.
Meanwhile, Squid Game 3 is set to premiere next year, and many are eager to see how the next installment will be received after the mixed response to Season 2.
Industry experts warn that stocks tied to themed entertainment projects like Squid Game often move independently of actual company performance. Experts urge investors to exercise caution as these stocks can experience sharp declines quickly.
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