[Featured Stock] Kakao Hit by Regulatory Risks... Falls Below 120,000 Won After 5 Consecutive Trading Days of Decline

[Asia Economy Reporter Park Jihwan] Kakao has fallen below 120,000 won after showing a decline for five consecutive trading days. Investment sentiment is rapidly shrinking as regulatory risks from financial authorities come to the forefront.

As of 10 a.m. on the 17th, Kakao is trading at 119,500 won, down 2,000 won (1.65%) from the previous trading day.

Kakao faced a sharp decline earlier this month due to news of regulatory moves on 'internet platforms' by the government and political circles. From the 6th to the 16th, over nine trading days, the stock mostly trended downward except for one day. During this period, Kakao's stock price dropped 24.37% (35,000 won).