[Featured Stock] Netmarble Plummets Over 6% Despite Strong Q2 Earnings

Despite Netmarble delivering an earnings surprise in the second quarter, the stock is plunging due to a flood of profit-taking sales.

As of 9:36 AM on the 9th, Netmarble is trading at 65,200 KRW on the KOSPI, down 4,100 KRW (6.05%) from the previous close.

The trading volume is around 420,000 shares, with a trading value of approximately 27.9 billion KRW.

The stock opened higher at 70,200 KRW but plummeted as profit-taking intensified, falling to a low of 63,500 KRW.

At around 9:17 AM, Netmarble’s stock futures and stock options triggered the second-level price limit expansion condition (decline). This is activated when the transaction price falls 10% below the reference price.

The decline in the stock price is seen as a result of the exhaustion of the earnings expectations that had recently driven the price up. Netmarble had risen for three consecutive trading days since the 6th, with the previous day’s closing price reaching 69,400 KRW.

On the previous day, after market close, Netmarble announced that its consolidated sales for the second quarter of this year reached 782.1 billion KRW, with an operating profit of 111.2 billion KRW. Sales increased by 29.6% year-on-year, marking the highest quarterly sales since the company’s establishment, and operating profit turned positive.