[Featured Stock] SK Hits Intraday Low... Plummets Over 10%
[Asia Economy Reporter Minji Lee] SK hit a new intraday low.
At 10:18 a.m. on the 13th in the KOSPI market, SK was traded at 147,500 KRW, down 10% from the previous session. On the same day, SK fell to 146,000 KRW, lower than the previous 52-week high of 161,000 KRW.
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Shim Wonseop, a researcher at Cape Securities, said, “The decline in SK's stock price is due to a combination of factors including poor earnings, the spread of COVID-19, a sharp drop in oil prices, dilution of the listing momentum of major subsidiaries, and lowered expectations for the split-merger with SK Telecom.” He added, “The stock price has fallen about 10% compared to before last year's announcement of share buybacks.”
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