[Featured Stock] 'Newly Listed' Cheongdam Global Surges for Fourth Consecutive Day

[Asia Economy Reporter Lee Seon-ae] E-commerce platform company Cheongdam Global has been on a four-day winning streak since its listing on the KOSDAQ market.

As of 10:10 AM on the 8th, Cheongdam Global is trading at 12,250 KRW, up 23.36% (2,320 KRW) from the previous day. It rose to 12,700 KRW in early trading. Cheongdam Global was listed on the 3rd and has risen for three consecutive trading days until the previous day. During this period, the stock price jumped 52.5%. Based on the public offering price, it has increased by 94.2%. This is interpreted as due to securities firms' analysis emphasizing the need to focus on growth potential. It is expected that sales will increase due to the lifting of China's lockdown measures and major shopping events in China.

On the previous day, Cape Investment & Securities gave Cheongdam Global a ‘Buy’ rating and newly set a target price of 13,000 KRW, stating that it secures stable performance through its core businesses of lifestyle products and filler·botox distribution. Established in 2017, Cheongdam Global is a distribution specialist company whose main business purposes are the sale of cosmetics, beauty tools, and health functional foods. In 2020, it signed a primary contract with JD.com, the second-largest e-commerce platform in China, and last year launched the cosmetics-specialized platform ‘Byshco’.

A Cheongdam Global official said, “Shortly after the listing, the founding anniversary event of JD.com, Cheongdam Global’s largest client in China, is scheduled,” adding, “In November, the second half of the year, the Guanggun Festival, known as China’s Black Friday, is approaching, so a definite sales increase can be expected.”

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