by Cha Minyoung
Published 07 Jun.2024 09:29(KST)
Domestic game company Pearl Abyss is showing an upward trend in the early trading session due to expectations following the issuance of the Chinese license for 'Black Desert.'
As of 9:25 a.m. on the 7th, Pearl Abyss is trading on the KOSDAQ market at 42,000 KRW, up 900 KRW (2.19%) from the previous close.
The trading volume is about 780,000 shares, with a trading value of 34.3 billion KRW. The stock price started at 45,200 KRW but gave up some of its gains due to profit-taking.
Kiwoom Securities released an analysis report on Pearl Abyss on the same day, stating that the issuance of the Chinese foreign investment license for Black Desert on the 5th is expected to improve performance.
Researcher Kim Jin-gu of Kiwoom Securities said, "We will newly reflect the performance of Black Desert Online in our estimates starting from the fourth quarter of this year," adding, "Since Black Desert Online has higher global sales sustainability compared to Black Desert Mobile, it is necessary to reflect estimates at a neutral level."
He also added, "However, since Black Desert has had a long live service period, it is reasonable to reflect estimates at a market-level standard."
Researcher Kim predicted, "Last year, China accounted for 24.3% of the global game market, and the estimated Chinese sales for Black Desert Online next year, based on total sales, will be 51.9 billion KRW, accounting for 21.4% of the total."
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