[Featured Stock] JYP Entertainment Rises Over 7% on H2 Profit Growth Outlook
[Asia Economy Reporter Minji Lee] JYP Entertainment is showing a rise of over 7% amid expectations that its profits may increase further in the second half of the year.
At 1:53 PM on the 19th in the KOSDAQ market, JYP Entertainment was traded at 36,850 KRW, up 6.81% from the previous session. During the day, the stock price surged more than 8%, reaching as high as 37,500 KRW.
The sharp rise in stock price is interpreted as driven by expectations of strong performance in the second half.
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Namsoo Lee, a researcher at Kiwoom Securities, stated, “Major artists’ comebacks are planned for the second half, which will help offset revenue declines caused by the absence of concerts,” and added, “The expansion of global music streaming, fan clubs, and MD business will present a solid profit model.”
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