[Featured Stock] Oversold Analysis Gains Momentum... NAVER Rises Over 5% Intraday

[Asia Economy Reporter Minji Lee] NAVER is showing a rise of over 5% during trading hours. This is analyzed to be influenced by the U.S. stock market closing higher despite the worst inflation situation.

At 9:41 a.m. on the 14th, NAVER was trading at 168,000 KRW, up 5.9% compared to the previous trading day. The stock price surged to as high as 168,500 KRW during the session.

The KOSPI is currently showing a rise of over 1%, influenced by the U.S. stock market closing higher despite the September Consumer Price Index (CPI) exceeding expectations. The oversold condition is believed to have attracted investor sentiment. NAVER is also showing an upward trend influenced by this. NAVER had continued to decline after the announcement of its acquisition of 'Poshmark,' known as the U.S. version of 'Danggeun Market,' earlier this month, amid concerns about its performance. Over the past month, NAVER's stock price has plummeted by more than 28%.

Meanwhile, NAVER's operating profit for the third quarter is expected to be 339.7 billion KRW, down 2.9% year-on-year. Annual operating profit is forecasted to increase by only 2% to 1.3485 trillion KRW compared to the previous year. Dongwoo Kim, a researcher at Kyobo Securities, analyzed, “Operating profit may fall short of market expectations due to the slowdown in advertising revenue growth, which is a high-margin business division,” adding, “In the search platform segment, growth was likely limited due to advertisers' marketing restrictions amid economic uncertainties.”

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