[Featured Stock] KOSDAQ Newcomer Cheongdam Global Hits 'Limit Up' Just Two Days After Listing

[Asia Economy Reporter Ji Yeon-jin] Cheongdam Global, which debuted on the domestic stock market this month, is recording an intraday upper limit price on the 7th as positive reviews about its business prospects emerge.

Cheongdam Global is trading at 9,930 KRW, up 29.97% (2,290 KRW) from the previous day, just 16 minutes after the opening on the KOSDAQ market. The company rose 17.54% on its first day of listing on the 3rd and has now reached the price limit on this day.

Earlier, Cape Investment & Securities issued a buy recommendation and a target price of 13,000 KRW for Cheongdam Global on the same day.

Researcher Heo Seon-jae of Cape Investment & Securities said, "From the second half of the year, overseas expansion and activation of our own cosmetic platform are expected," adding, "Since sales diversification by country, client, and product is anticipated, meaningful valuation rerating will accompany earnings growth each time such structural improvements become visible."

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