[Asia Economy Reporter Hwang Yoon-joo] Netmarble's stock price is declining following news of forced sales of shares held by its executives and employees.
As of 9:10 AM on the 19th, Netmarble is trading at 74,900 KRW, down 2.22% (1,700 KRW) from the previous close.
Netmarble reported an operating loss of 11.9 billion KRW in the first quarter, turning to a deficit compared to the same period last year and the previous quarter. This was due to the absence of major new releases combined with increased marketing and labor costs.
On the same day, Kim Ha-jung, a researcher at Daol Investment & Securities, stated, "The deficit occurred due to structural cost increases," and lowered the target stock price by 25%, from 120,000 KRW to 90,000 KRW.
Meanwhile, it is interpreted that the recent forced sales of shares held by Netmarble executives have dampened investor sentiment.
Vice President Seol Chang-hwan, Executive Director Park Young-jae, and Director Lee Jung-ho conducted forced sales worth 7.7717 billion KRW, 1.894 billion KRW, and 902.5 million KRW, respectively.
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