HYBE’s market cap drop due to BTS’s rumor!
HYBE’s market cap drops by 1.7 billion USD after news of BTS’s group hiatus! Let’s check the details right now!
Not only were ARMYs worldwide shocked by the sudden news that BTS will take a hiatus as a gaggle, but HYBE investors were also shaken by the newest news. This recent news about the group’s hiatus has triggered HYBE’s stock price to fall quite 20% during a day. in barely a brief span of your time, HYBE’s market cap dropped by 2 trillion KRW (1.7 billion USD).
Back on April 15, shares of HYBE were trading at 294,000 KRW (227.65 USD) per share, but on June 15, the stock dropped to 145,000 KRW (112.28 USD) per share. in an exceedingly single day, the stock plunged 25%.
The drop by market cap occurred when BTS announced that the group are entering a hiatus for the members to focus more on their individual activities. The boys revealed that they require to require time to re-evaluate the group and target themselves as individuals.
With the most recent announcement, HYBE’s stock has plummeted, reaching near its lowest level on record since its IPO in October 2020. in line with Bloomberg, “Hybe sank the maximum amount as 28% on Wednesday in Seoul, touching its lowest level on record since its trading debut in October 2020 and wiping out the maximum amount as $1.7 billion in value. Shares are down nearly 60% this year, significantly underperforming the broader (Korean) equity benchmark.”
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