HYBE Stock Value Drops 25% Following News Of BTS’s Next Chapter Of Activities
HYBE’s stock value has taken a tumble following the news of BTS’s next chapter of their activities.
While HYBE has officially announced that BTS would not going on a hiatus, investors are panicking as the value of HYBE’s stock has dropped 25% since trading opened for June 15 KST.
The value of the stock dropped during after-hours trading as the announcment was made during the evening of June 14 KST, after normal trading hours closed, which is why the opening price is listed as ₩168,000 KRW (about $130 USD) despite the previous day’s closing price of ₩193,000 KRW (about $150 USD).
The sudden drop of HYBE’s stock means that the company’s overall valuation has dropped over 2 trillion won (₩2.12 trillion KRW [$1,644,656,529 USD] to be exact). While it is expected that the value of the stock will slowly rebound, investors are worried about the future of the company, wondering when the next time they will be able to see BTS all together again. During this time, the members will be focusing more on individual activities.