[Featured Stock] BigHit Rises Over 6% Intraday

[Asia Economy Reporter Minji Lee] Big Hit is showing an intraday rise of over 6%.

According to the Korea Exchange on the 18th, as of 2 PM, Big Hit was traded at 166,500 KRW, up 6.05% intraday. Looking at investment trends, foreigners and institutions net bought 21,000 shares and 36,000 shares respectively.

Despite the impact of the novel coronavirus disease (COVID-19), Big Hit is estimated to have posted solid results in the fourth quarter of last year. The securities industry expects operating profit to grow by up to 80% compared to last year, reaching around 55 billion to 60 billion KRW.

This year, it is also expected to record favorable performance with the expansion of the Weverse platform and the resumption of offline concerts. Jinah Ahn, a researcher at KTB Investment & Securities, said, “With BTS's world tour scheduled for the second half of the year, the expansion of the platform business will enable profit generation from both traditional entertainment revenue models and new business models,” adding, “If concerts gradually resume in countries that have moved out of the COVID-19 impact zone in the second half, concert sales could reach around 200 billion KRW annually.”