[Feature Stock] "SpaceX Beneficiary" Mirae Asset Securities Preferred Shares Plunge After Hitting Record High

Mirae Asset Securities Preferred Shares are experiencing a sharp decline in early trading.

As of 9:05 a.m. on December 24, Mirae Asset Securities Preferred Shares were trading at 12,720 won, down 16.64% (2,540 won) from the previous day. After opening with a 4% gain and hitting a new 52-week high of 16,000 won, the shares quickly reversed course as investors moved to realize profits.

Previously, Mirae Asset Securities Preferred Shares had hit the upper price limit the previous day following analyst reports suggesting that, should SpaceX go public, Mirae Asset Securities-not Mirae Asset Venture Investment-would be the biggest beneficiary. On the same day, the price increase for Mirae Asset Securities Preferred Shares (+3.9%) outpaced that of Mirae Asset Securities common shares. The perceived advantage of preferred shares over common shares in terms of dividends is believed to have boosted investor sentiment.

Mirae Asset Group is estimated to have invested a total of 278 million dollars (approximately 400 billion won) in SpaceX across two rounds in 2022. Of this, Mirae Asset Securities contributed about 200 billion won. When including the investments made by its overseas subsidiaries, it is understood that Mirae Asset Securities accounts for more than half of the group’s total investment in SpaceX.

Ko Yeonsu, a research analyst at Hana Securities, stated, "Currently, SpaceX's valuation is being discussed at a minimum of 800 billion dollars," and added that regardless of whether SpaceX goes public, there is a high possibility that Mirae Asset Securities will see additional valuation gains related to SpaceX.