[Featured Stock] HYBE Rides the 'Metaverse' Wave, Hits New Highs... Surpasses 400,000 Won

[Asia Economy Reporter Ji Yeon-jin] HYBE continued its steady rise on the 15th, breaking its record high amid expectations for strong third-quarter earnings and entry into the non-fungible token (NFT) business.

On that day, HYBE's stock price traded at 413,500 KRW, up 4.29% (17,000 KRW) compared to the previous trading day, marking a 52-week high. Since the 11th, the stock has risen for three consecutive days, continuously setting new record highs since the 12th. As of 10:13 AM on the same day, the stock price was trading at 407,000 KRW, up 2.65% from the previous trading day.

The company has recently posted strong third-quarter earnings and is continuing aggressive moves, including acquiring shares in Dunamu. Minha Choi, a researcher at Samsung Securities, analyzed, “HYBE will link its affiliated artists with non-fungible tokens (NFTs) to digitalize goods, content, and more, generating additional profits. It offers scarcity by allowing fans to own unique products that cannot be replicated, expanding fan experiences and increasing the value of artist IP.”