[Featured Stock] CJ ENM Falls 11% on 1Q Earnings Slump... Drops to 11th in KOSDAQ Market Cap

[Asia Economy Reporter Lee Jung-yoon] CJ ENM is plummeting due to poor performance in the first quarter of this year.

As of 2:13 PM on the 12th, CJ ENM is trading at 106,000 KRW, down 10.77% from the previous day. At one point on the same day, CJ ENM fell to 105,100 KRW, marking a 52-week low. Additionally, it dropped from 10th to 11th place in the KOSDAQ market capitalization rankings.

The day before, CJ ENM announced that its operating profit for the first quarter of this year was preliminarily estimated at 49.6 billion KRW, a 47% decrease compared to the same period last year. Sales increased by 20.9% to 957.3 billion KRW, while net profit for the period decreased by 98% to 1.588 billion KRW.