[Featured Stock] Hannet Shows Three Consecutive Days of Strength Amid Bitcoin Decline

[Asia Economy Reporter Ji Yeon-jin] HanNet, a cash dispenser (CD) company, recorded a 52-week high on the 24th. The stock price has shown a strong upward trend for three consecutive days amid intensified scrutiny of Bitcoin, whose price has recently surged sharply.

Following remarks by U.S. Treasury Secretary Janet Yellen that the Federal Reserve (Fed) is preparing its own digital currency, HanNet has been regarded as a beneficiary stock and has maintained its strong performance for three consecutive days.

On the morning of the 24th, immediately after the market opened, HanNet traded at 12,550 KRW, up 21.26% from the previous day, setting a new 52-week high. As of 10:02 a.m., the stock price slightly declined to 11,900 KRW. HanNet closed at 8,510 KRW on the 22nd, up 12.72% from the previous day, and surged 21.62% the following day.

Earlier, Bitcoin prices soared earlier this month following news of Tesla's investment. In response, U.S. Treasury Secretary Janet Yellen criticized Bitcoin as a "highly speculative asset" during an interview with the economic channel CNBC on the 21st (local time). The next day, she stated that the Federal Reserve is preparing its own digital currency, which caused Bitcoin prices to plunge about 19%.