[Featured Stock] BigHit Falls Over 5%... Drops Below 180,000 Won

[Asia Economy Reporter Minji Lee] Big Hit has been showing a decline for four consecutive trading days.

At 1:18 PM on the 20th, Big Hit was traded at 179,000 KRW, down 5.3% on the KOSPI market. Institutions put selling pressure on the market, pushing the price below the 180,000 KRW level.

Since its listing on the 15th, Big Hit has experienced a decline for four consecutive trading days. After opening at twice the IPO price on the first day of listing and hitting the upper price limit, known as "ttasang," the stock price plummeted as profit-taking selling flooded the market. Since the listing until the previous day, foreigners and institutions are estimated to have net sold Big Hit shares worth 108.2 billion KRW on the KOSPI market. On the other hand, individual investors have net bought shares worth 415 billion KRW during the same period.

The lowest target price currently suggested by securities firms is 160,000 KRW, proposed by Meritz Securities last month. The highest target price was suggested by Hana Financial Investment, which expects sales to reach 500 billion KRW in the second half of the year and set a target price of 380,000 KRW.