The auto parts company DIC saw its stock price surge sharply as it was grouped under the Trump theme, but it is now undergoing a correction.
On the 18th, in the stock market, DIC's stock price was trading at 4,070 won as of 9:30 AM, down 5.24% from the closing price last weekend. After a sharp rise over two days last week, it has given up some of its gains.
DIC is known to supply electric vehicle reducers to Tesla, the electric car company of Elon Musk, who has supported Donald Trump, the president-elect of the United States in the U.S. presidential election. In electric vehicles, the reducer corresponds to the gear in conventional internal combustion engine vehicles.
As DIC was grouped as an Elon Musk-related stock with a pro-Trump inclination, its stock price surged for two consecutive days last week, rising 7.81% on the 14th and 24.49% on the 15th.
However, on this day, profit-taking emerged due to concerns over the stock price surge driven by a simple theme, causing the stock price to turn downward.
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