[Featured Stock] SM Faces Earnings Concerns Due to COVID-19... Hits 52-Week Low
[Asia Economy Reporter Minji Lee] SM Entertainment plunged to a 52-week low amid growing concerns over deteriorating earnings due to the novel coronavirus disease (COVID-19).
On the 12th, SM traded at 23,750 KRW on the KOSDAQ market, down 9% from the previous session. This is lower than the previous 52-week low of 25,850 KRW.
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Researcher Sangwoong Han of Eugene Investment & Securities explained, "Due to the impact of COVID-19, it has become difficult to hold concerts with large crowds," adding, "Japan has effectively imposed entry bans on Koreans, and since SM's sales proportion in Japan accounts for about 20% (based on last year), a decline in earnings is expected."
This content was produced with the assistance of AI translation services.
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