[Featured Stock] SK IE Technology Plummets on Turn to Deficit

SK Innovation Technology (SKIET) is plummeting following news of a third-quarter turnaround to a loss.

As of 10:11 a.m. on the 7th, SKIET is trading at 29,350 KRW, down 4.08% (1,250 KRW) from the previous day.

The previous day, SKIET announced a consolidated operating loss of 73 billion KRW for the third quarter, marking a turnaround to a loss compared to the same period last year. Securities firms have lowered their target prices due to a downward revision in sales forecasts for SK On, which accounts for a large portion of revenue.

Earlier, Juminwoo, a researcher at NH Investment & Securities, said, "The acquisition of new customers is delayed, and the sales forecast for SK On, a captive (fixed) customer, has been lowered," lowering the target price by 6%.

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