[Asia Economy Reporter Song Hwajeong] Kakao is continuously hitting new all-time highs. On this day, it rose to 6th place in market capitalization during trading hours.
As of 9:41 AM on the 8th, Kakao was trading at 548,000 KRW, up 6,000 KRW (1.11%) from the previous day. During the session, it climbed to 561,000 KRW, setting a new 52-week high. With a market capitalization exceeding 49 trillion KRW, it surpassed Hyundai Motor Company to rank 6th.
The value of Dunamu's shares and other factors have been cited as recent drivers of Kakao's stock price increase. Samsung Securities analyst Oh Donghwan stated, "As the cryptocurrency market rapidly expands recently, the value of Dunamu shares held by Kakao and the corporate value of its subsidiary Klaytn have increased. Kakao holds a 23.1% stake in Dunamu through its headquarters and subsidiaries, and since Dunamu is preparing for a Nasdaq listing, a revaluation of the stake's value will be necessary upon Dunamu's IPO." Additionally, analyst Oh added, "The trading price of Klay, the cryptocurrency issued by Kakao's blockchain subsidiary Klaytn, has risen to the 4,000 KRW range, pushing Kakao Klay's market capitalization to around 10 trillion KRW."
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