[Asia Economy Reporter Lee Seon-ae] Naver's stock price is on the rise on the 5th. The influx of bargain buying following the recent stock price decline is believed to be supporting the stock price increase. The recent drop in stock price is seen as excessive by the securities industry.
During the trading session, Naver's stock price soared to 248,500 KRW. As of 11:04 AM, it is trading at 246,000 KRW, up 4.68%.
The news that the world's largest health lifestyle shopping mall iHerb is providing a simple payment service is also improving investor sentiment.
On the same day, iHerb announced that it will strengthen its simple payment service for Korean consumers in partnership with Naver Pay. With just a Naver ID, users can make payments easily on iHerb without going through authentication procedures such as a public certificate or security card.
Seong Jong-hwa of Ebest Investment & Securities analyzed, "Naver is a representative growth stock, and it is difficult to easily predict the bottom due to the strong impact of the macro environment. However, even considering adjustments to earnings forecasts and the value of major platform businesses, the short-term decline is an unusual level that exceeds these factors."
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