[Featured Stock] Kakao Games Gains Over 3% Early in Trading... Hits New High for Second Day
[Asia Economy Reporter Park Ji-hwan] On the 17th, Kakao Games' stock price showed strong performance. Following the previous day, it again set a new intraday record high.
According to the Korea Exchange on this day, as of 10:22 AM, Kakao Games was trading at 112,100 KRW, up 3,400 KRW (3.13%) from the previous trading day. The stock price touched 116,000 KRW during the session, marking a new record high for the second consecutive day.
The strong performance of Kakao Games' stock price appears to be influenced by the acquisition of shares in Lionheart Studio, the developer of the hit game "Odin: Valhalla Rising," and the announcement of plans for a non-fungible token (NFT) business.
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Kim Dong-hee, a researcher at Meritz Securities, said, "By becoming the dominant shareholder of Lionheart Studio, the leap to a global game company is imminent," adding, "Next year, with diversification of the game portfolio and the launch of an NFT platform, growth as a 'beyond' game company is possible."
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