[Featured Stock] Theborn Korea Hits New Low... Intraday Drop Over 5%

Last week, the dining franchise The Born Korea, which made a spectacular debut on the stock market, plunged sharply on the 11th, hitting a new intraday low again.

As of 9:25 a.m. that day, The Born Korea was trading on the KOSPI at 43,700 won, down 2,500 won (5.41%) from the previous close.

During the trading session, it hit a new low of 42,700 won.

The Born Korea made a dazzling debut on the stock market with an opening price higher than the public offering price, but then fell more than 10% on the third day after listing, the 8th.

It is observed that profit-taking sell orders have been pouring in continuously. According to Kiwoom Securities, there was a net institutional selling of 1.6 billion won on the 8th alone.

The representative of The Born Korea is Baek Jong-won, a broadcaster and culinary researcher. After listing, The Born Korea plans to advance its dining business and expand B2B (business-to-business) distribution channels such as corporate and military catering to establish a stable cash cow.