[Featured Stock] KakaoBank Weakens Amid Selling Pressure from Lock-up Release

[Asia Economy Reporter Song Hwajeong] KakaoBank is weak due to the burden of the release of locked-in shares.

As of 9:41 a.m. on the 6th, KakaoBank was traded at 77,600 won, down 3,200 won (3.96%) from the previous day. It continues a sharp decline for three consecutive days.

The concern over the volume burden is interpreted as pulling down the stock price. On this day, the lock-up on 3,141,600 shares of KakaoBank held by domestic and foreign institutional investors under a one-month mandatory holding agreement will be lifted. This corresponds to 8.72% of the total institutional allocation volume.

Earlier, on the 2nd, the stock price fell more than 7% due to an off-hours block deal by the Korea Post.