The 3rd quarter of this year doesn’t bring good news for any of the three big agencies.
According to KOSDAQ on October 24, the big three agencies saw a sharp drop in their stock prices with the sharpest drop recorded for JYP Entertainment’s stock that dropped by 21.85% while SM Entertainment stock price dropped by 18.18%, and YG Entertainment’s stock plunged 12.41% this is compared to the previous day of trading.
The stock price dipped so much after an analyst explained the agencies will fall short regarding the estimated earning of the third quarter of this year.
And according to Bloomberg,
“The declines were the worst for the stocks since at least 2012.”
That is more bad news for the big three companies.
According to Bloomberg, the big three gains came crashing down on Wednesday, after Hana Financial Investment Co. analyst Lee Kihoon said new bands may not be as successful as recent groups.
The big three loses are being compared to the gain of BTS and Big Hit Entertainment who enjoyed a great 2018 with the help of the fandom. Big Hit Entertainment is still privately held.