[Featured Stocks] NAVER and Kakao Hit New Lows Again
NAVER Market Cap Drops by Approximately 9 Trillion Won This Month
![[Featured Stocks] NAVER and Kakao Hit New Lows Again](http://www.asiae.co.kr/news/img_view.htm?img=2020012113555818019_1579582557.jpg)
[Asia Economy Reporter Minji Lee] NAVER and Kakao have once again plunged to new lows.
The Nasdaq index plummeted 4.08% in a single day, and the New York stock market was heavily impacted by concerns over interest rate hikes and the possibility of an economic recession.
At 9:10 a.m. on the 17th, NAVER was trading at 236,500 KRW, down 1.46% from the previous trading day. At the same time, Kakao was trading at 71,200 KRW, down 1.52% from the previous day. Both stocks hit 52-week lows.
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Market capitalization also fell significantly. As of the 2nd of this month, NAVER's market cap was 47.5742 trillion KRW, but as of now, it has dropped to 38.79 trillion KRW, losing about 9 trillion KRW. Kakao also fell from 37.1701 trillion KRW at the beginning of the month to around 31 trillion KRW, losing about 6 trillion KRW.
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