JYP Ent. experienced a significant drop due to poor performance, hitting a 52-week low during trading.
As of 10:46 AM on the 13th, JYP Ent. is trading at 60,800 KRW, down 8,500 KRW (12.27%) from the previous close. During the session, the price fell to 60,500 KRW, marking a 52-week low.
Earlier, on the 10th, JYP Ent. announced that its operating profit for the first quarter of this year decreased by 20% year-on-year to 33.6 billion KRW. Park Sooyoung, a researcher at Hanwha Investment & Securities, stated, "JYP Ent.'s first-quarter performance fell short of the market consensus (average securities firm forecast) of 43.9 billion KRW in operating profit," adding, "As growth of lower-tier artists stagnates, investments aimed at strengthening the K-pop value chain have been made, making a decline in profit margins inevitable for the time being." Hanwha Investment & Securities has lowered JYP Ent.'s target stock price from 95,000 KRW to 80,000 KRW.
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