[Featured Stock] Big Hit Falls Sharply 11% on Second Day After Listing
[Asia Economy Reporter Minji Lee] Big Hit is struggling on its second day of listing.
At 9:16 AM on the 16th, Big Hit was traded at 229,000 KRW, down 11.24% from the previous session on the Korea Exchange.
![[Featured Stock] Big Hit Falls Sharply 11% on Second Day After Listing](http://www.asiae.co.kr/news/img_view.htm?img=2020101511343644271_1602729276.jpg)
On the previous day, Big Hit closed at 258,000 KRW, down 4.44% from the opening price of 270,000 KRW. On that day, Big Hit formed an opening price of 270,000 KRW, which is twice the public offering price of 135,000 KRW, and reached the upper price limit of 351,000 KRW, achieving the so-called 'ttasang' (opening at the upper limit and continuing to rise). However, selling pressure mainly from institutional and foreign investors led to a decline by the close.
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Regarding Big Hit's target stock prices by securities firms, Hyundai Motor Securities suggested 264,000 KRW, and Hanwha Investment & Securities suggested 260,000 KRW. Others include eBest Investment & Securities at 212,000 KRW and Hana Financial Investment at 190,000 KRW.
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