Cafe24 has been strong for the second day following the launch of the YouTube Shopping dedicated store feature. It recorded a 52-week high during trading.
As of 9:06 AM on the 20th, Cafe24 is trading at 39,800 KRW, up 2,450 KRW (6.56%) from the previous day. During the session, it rose to 41,250 KRW, setting a new 52-week high. The previous day, it had hit the daily limit up.
Cafe24 announced that it launched the world's first YouTube Shopping dedicated store opening feature the day before. This feature allows anyone to open a dedicated store and start YouTube Shopping with just a few clicks, without complicated development or design work. Unlike before, creators and brand sellers without a Cafe24 proprietary mall can also start YouTube Shopping.
Aram Kim, a researcher at Shinhan Investment Corp., said, "The launch of the YouTube Shopping dedicated store has increased the visibility of Cafe24's total transaction volume (GMV) growth." He added, "The appropriate corporate value will vary depending on how positively YouTube Shopping GMV and multiples are viewed, but despite the stock price rising 30% the previous day, there is still upside potential."
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