[Featured Stock] EdisonEV Plummets Amid Delay in Ssangyong Motor Acquisition

[Asia Economy Reporter Junho Hwang] Edison EV (formerly Semisysco), which recently recorded multiple consecutive upper limits due to the acquisition of Ssangyong Motor, is plummeting in early trading on the 1st.

Edison EV is trading at 13,850 KRW, down 13.98% from the previous session. On the 30th, Edison EV also closed at 16,100 KRW, down 29.85% (6,850 KRW) from the previous trading day. This marks a continuous decline for five consecutive trading days, with the stock price falling to the limit down.

The market views that the delay in the Ssangyong Motor acquisition is affecting the stock price. The Edison Motors consortium, which includes Edison EV, is reported to have requested the Seoul Bankruptcy Court to extend the period for the detailed due diligence of Ssangyong Motor. Accordingly, the due diligence period has been extended until the 30th, and the schedule for the main contract negotiations, originally planned for the end of last month, has also been postponed.