[Featured Stock] Atinum Invest Rises on Potential for Dunamu Stake Value to Exceed Market Cap by Over 20 Times

[Asia Economy Reporter Minwoo Lee] The stock price of Atinum Investment is on the rise. This is attributed to the spotlight on its ownership of a stake in Dunamu, the operator of Upbit, a cryptocurrency exchange, amid forecasts that Upbit's corporate value could reach up to 100 trillion won.

As of 9:48 AM on the 2nd, Atinum Investment's stock price recorded 5,520 won, up 14.64% from the previous day. Compared to the closing price of 3,155 won on the 29th of last month, it has risen by about 75%.

This is interpreted as a result of expectations that the value of Dunamu shares held by Atinum Investment could skyrocket. Due to the booming cryptocurrency market, Dunamu, the operator of Upbit, is expected to achieve record-breaking performance in the first quarter of this year, and its corporate value is anticipated to reach tens of trillions of won upon listing in the U.S. The industry estimates that Dunamu will record sales of 460 billion won and operating profit of 420 billion won in the first quarter. Annual operating profit is expected to exceed 1 trillion won significantly. Even applying only half of the average price-to-earnings ratio (PER) of 40 times for internet platform companies such as Kakao and Naver, Dunamu's corporate value reaches 9.7 trillion won.

In particular, if the U.S. listing proceeds smoothly, the corporate value could soar. Coinbase, a U.S. cryptocurrency exchange preparing for a Nasdaq listing, is valued at around 100 trillion won. Coinbase's performance last year was approximately 1.45 trillion won in sales and 465 billion won in operating profit. Dunamu, whose first-quarter operating profit already matches Coinbase's entire performance last year, is expected to be valued in the 100 trillion won range.

Atinum Investment is estimated to hold about 6.4% of Dunamu's shares. If Dunamu's corporate value is evaluated at 20 trillion won, Atinum Investment's stake would be worth 1.28 trillion won. If valued at 100 trillion won, it would exceed 6 trillion won. This is more than 22 times Atinum Investment's market capitalization (approximately 270 billion won).