Kidari Studio Soars 20%
NBT, YLAB, Finger Story Also Rally
Naver Webtoon Faces No Issues with Nasdaq Listing in the US
Stocks related to webtoons are showing strong performance in early trading on the 30th. The news that Naver Webtoon’s planned U.S. listing is progressing smoothly is believed to have positively influenced investor sentiment.
As of 9:24 a.m., Kidari Studio is trading at 5,310 KRW, up 20.82% (915 KRW) from the previous day. NBT is up 500 KRW (8.79%) at 6,190 KRW, and YLAB is trading at 13,140 KRW, up 6.14% (760 KRW). Other stocks such as Mr. Blue (4.76%), Finger Story (5.33%), and D&C Media (4.80%) are also showing upward trends.
Webtoon stocks tend to be significantly influenced by the global performance or major news of Naver Webtoon and Kakao Webtoon. This is due to the "coupling" phenomenon, where two or more assets, indices, or markets move with strong correlations. This occurs because these companies are directly or indirectly related by supplying webtoon or web novel content to the Naver Webtoon platform or entering into business agreements.
Naver Webtoon is planning to list on the U.S. Nasdaq in June. Despite recent issues with Naver’s "Line Yahoo," the initial public offering (IPO) is progressing smoothly. It is known that Goldman Sachs and Morgan Stanley have been selected as lead underwriters and are currently conducting the preliminary listing review. Depending on circumstances, there is also a possibility of changing the listing market to the New York Stock Exchange (NYSE) instead of Nasdaq, similar to the past case with Coupang.
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