[Featured Stock] Shift Up Rises Over 3% on Expectations of Nikkei's Entry into China

The stock price of game company Shift Up, which plans to launch 'Victory's Continuous Nike' in the Chinese market in the second quarter of this year, is on the rise.

As of 9:19 AM on the 26th, Shift Up was trading at 63,000 KRW, up 1,900 KRW (3.11%) compared to the previous trading day.

On the same day, Yuanta Securities initiated coverage on Shift Up with a target price of 90,000 KRW and a buy rating.

Researcher Changyoung Lee of Yuanta Securities stated, "Shift Up's global intellectual property (IP) games are already generating stable revenue across mobile, console, and PC platforms," adding, "'Nike,' one of them, is set to enter the Chinese market in the second quarter of this year, which is expected to lead to significant performance improvement."

He continued, "The pre-registration number for 'Nike' is about 3.2 million, and Tencent's pre-registration target is 8 million, showing confidence in the content. Aggressive marketing is expected going forward," adding, "This is believed to reflect the recently eased regulations on K-content, such as the lifting of the Hanhanryeong."