[Featured Stock] "Even BTS Sold" HYBE Falls for 7 Consecutive Trading Days... Down 5%

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] HYBE is experiencing a sharp decline of over 5%. It is analyzed that investor sentiment was affected by news that BTS members sold approximately 10 billion KRW worth of company shares.

As of 11:25 AM on the 2nd, HYBE was trading at 333,500 KRW, down 5.39% from the previous trading day. HYBE has continued a downward trend for seven consecutive trading days, falling about 15% during this period.

Amid concerns over BTS's upcoming military enlistment next year and uncertainty about entertainment companies' profit improvements due to the spread of the Omicron variant, the news that some BTS members realized profits has further accelerated the stock price decline.

According to the disclosure on the previous day, BTS members Jin, J-Hope, and RM sold approximately 10 billion KRW worth of shares. Jin sold 16,000 HYBE shares on October 19 at 302,688 KRW per share, and J-Hope sold 5,601 shares on October 22 at 332,063 KRW per share through on-market transactions. The sales amounts were 4.84301 billion KRW for Jin and 1.85988 billion KRW for J-Hope. RM sold 10,385 shares over seven transactions from October 13 to November 9, realizing a total profit of 3.24694 billion KRW. The selling prices ranged from a low of 282,500 KRW (October 13) to a high of 381,750 KRW (November 9).

However, securities firms are offering optimistic forecasts despite the plunging stock price. They expect solid performance driven by the growing presence of the 'Weverse' platform and the development of the non-fungible token (NFT) business through a strategic partnership with Dunamu. Hyunji Lee, a researcher at Eugene Investment & Securities, said, “It is positive that HYBE is reducing its dependence on direct artist sales through IP-centered new businesses and beginning to generate diverse revenue streams not only from music but also through one-source multi-use (OSMU).”

This content was produced with the assistance of AI translation services.