YG Entertainment’s Stock price continues to plummet and recorded a new low recently.
As of July 18 at 10:30 a.m. KST on KOSDAQ (Korea Securities Dealers Automated Quotation), the stock price was at 26,700 won (approx. $22.68) which is a %3 drop from the previous day. YG also hit their lowest stock price for the past year when they hit 25,750 won in trading earlier in the day.
The new drop in the stock price comes after the shocking announcement. Police announced Yang Hyun Suk was booked on the suspicion of mediating sexual services to foreign investors in September of 2014.
Yang Hyun Suk did step down from his responsibilities a month earlier, however, that doesn’t mean he won’t have an effect on the agency he created since he and his brother own the majority of shares among shareholders.
What do you think of this?