[Click eStock] YG Entertainment Drops Over 2% Intraday After GD Departure
YG Entertainment is experiencing a decline of over 2% during trading hours.
At 9:36 AM on the 7th, YG Entertainment was trading at 88,600 KRW, down 2.74% compared to the previous trading day.
This follows the news of the expiration of the exclusive contract with G-Dragon (GD), one of the company's prominent artists. On the 5th, YG Entertainment announced that the exclusive contract with GD had expired, stating, "We are cooperating through separate contracts for activities such as advertising," and added, "We plan to negotiate additional contracts when music activities resume, and YG will spare no support for this."
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Since the beginning of this year, YG Entertainment's stock price has surged over 85%. The increase was driven by expanded concert revenues from BLACKPINK, the debut news of the rookie group BabyPink, and expectations for GD's comeback within the year.
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