[Featured Stock] 'Recruitment Profit 144%' ↑ LG Energy Solution, Intraday Rise of 1.8%

Published 26 Apr.2023 11:03(KST)

LG Energy Solution is rising nearly 2% intraday, supported by solid earnings.

On the 10th, LG Energy Solution headquarters on Yeouidaero, Yeongdeungpo-gu, Seoul. Photo by Jinhyung Kang aymsdream@

As of 10:59 AM on the 26th, the stock was trading at 561,000 KRW, up 1.81% from the previous trading day. The company's stock price even rose to 564,000 KRW during the session.

On this day, the company announced in its Q1 earnings report that its operating profit increased by 144.6% year-on-year to 633.2 billion KRW. Revenue rose 101% to 8.7471 trillion KRW, and net profit increased 148% to 562 billion KRW. If LG Energy Solution closes the market at this level, it will mark a rise for the first time in six trading days.

Since the beginning of the year, stocks related to secondary batteries had shown a rally but have recently experienced a sharp decline. This is due to analyses suggesting that the stock prices of secondary battery-related companies are overvalued compared to their valuations. In the case of LG Energy Solution, its stock price has dropped 4.5% this month alone, from 586,000 KRW to around 560,000 KRW.