[Featured Stock] HYBE, Target Price Cut Amid BTS Uncertainty... Intraday Drop of 6%

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] HYBE's stock price is falling sharply.

At 9:51 a.m. on the 7th, HYBE was trading at 122,500 KRW, down 6.49% from the previous trading day. On the same day, the company's stock price fell to 121,500 KRW during the session, hitting a 52-week low.

This is due to lowered expectations for performance as the entry of overseas artists related to Weverse and diversification of revenue models have been delayed more than anticipated. As uncertainty surrounding BTS prolongs, the sluggish stock price trend continues, and with downward revisions to performance forecasts, investor sentiment has significantly weakened.

Minha Choi, a researcher at Samsung Securities, evaluated, "We are lowering the performance indicator forecasts, reducing the value of labels including Ithaca Holdings, and also lowering the value of Weverse, proposing a target stock price of 210,000 KRW, down 22% from before." She added, "Although the stock price is showing a weak trend due to unresolved uncertainties regarding BTS's future activities, it is positive that artists under the multi-label system are expanding their performance."