[Featured Stock] BigHit Falls 5% Intraday

[Asia Economy Reporter Minji Lee] Big Hit showed a decline of over 5% during trading hours.

[Image source=Yonhap News]

At 9:54 AM on the 26th, Big Hit was traded at 163,000 KRW on the KOSPI market, down 5.51%. This is about 20% higher than the public offering price (135,000 KRW). Currently, it is estimated that institutions have put about 10,000 shares on the market.

Individual investors have also maintained a selling trend since the 22nd. Although they maintained a net buying trend after the listing, on the 22nd individuals sold stocks worth 13 billion KRW, and on the 23rd they net sold stocks worth 4.2 billion KRW.

Big Hit has not been able to avoid sluggishness immediately after listing. Concerns that annual performance may fall short of expectations led foreign investors, institutional investors, and other corporations to flood the market with sell orders. In particular, other corporations net sold 177 billion KRW on the first day of listing and sold 132.1 billion KRW the next day, selling stocks worth 307.2 billion KRW over the four trading days immediately after listing.