[Featured Stock] 'Newcomer 2nd Battery' Wonjin Hits Upper Limit on KOSDAQ Debut

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] Wonjun, which entered the KOSDAQ market on the 7th, recorded its first upper limit price since listing on the 19th.

On that day, from around 1:32 PM, Wonjun was trading at 123,500 KRW, up 30.00% compared to the previous day. Expectations that U.S. Tesla's earnings will significantly increase and that the expansion of the electric vehicle market will benefit domestic secondary battery companies appear to have driven the stock price sky-high.

Wonjun is a company engaged in the kiln business that provides heat treatment equipment for the production of secondary battery materials (cathode and anode materials), as well as process equipment engineering business that designs, constructs, and commissions processes for secondary battery materials (cathode and anode materials). It was listed on the KOSDAQ market on the 7th of this month.

On the first day of listing, the stock price rose intraday to 120,400 KRW but recorded a decline for two consecutive days. However, from the 13th, foreign investors' buying momentum continued, leading to a sharp rise.