Big Hit’s Upcoming IPO Boosts SM, JYP, YG Stocks
It appears that Big Hit Entertainment‘s upcoming Initial Public Offering (IPO), is helping the competition’s stock values as well.
According to the Korea Exchange, JYP Entertainment stocks rose by 3.54%, closing at ₩42450 KRW ($35.83 USD) per share which is a historical high. The market value as of September 8 is recorded at ₩1,506,900,000,000 KRW ($1,271,721,582 USD).
YG Entertainment market value has also risen, to a 52-week high of ₩1,055,800,000,000 KRW ($891,048,216 USD) on September 8. Its subsidiary YG Plus has similarly benefited, with share prices rising by 15.25% on the same date.
SM Entertainment has had comparatively weaker performances as of late, but it also hit a 52-week high on September 8. With its market value currently at ₩921,600,000,000 KRW ($777,789,388 USD), if the trend continues then it could mark the first time in history that all of the Big 3 surpass one trillion won in market value.
COVID-19 negatively impacted the entertainment industry stocks, but they’ve rebounded and are doing better than ever before. Big Hit’s IPO was always projected to be the big fish of 2020, and the recent, unprecedented success of BTS on topping Billboard Hot 100 has definitely contributed to the hype.
Although physical shows have been halted, the entertainment industry has prospered from continued new releases and virtual concerts. Big Hit and BTS are leading the way as everyone adjusts to the new normal, and big things seem to be on the horizon.