Big Hit Entertainment was considered one of the most anticipated IPO’s of the Korean stock market history. And despite the initial optimism, the share price went drastically up then down, on the first day of listing, the stock price fell by 4%.
On the second day, things were even more volatile, the stock price of Big Hit Entertainment fell even lower, by more than 22%.
In two days, the stock value went from its highest price of 351,000 won ($307) to 200,500 won ($175). The issue was for first time investors who dipped their feet for the first time investing in Big Hit Stock. Various online stock communities are talking about their losses and asking for refunds.
One netizen asked if they’d be able to get a refund after investing, one other netizen invested his entire wedding funds into this and asked if its possible to ask for a refund since it hadn’t been ’24 hours since they bought them.’ The online stock communities are filled with similar comments about netizens asking if they’re ever able to get a refund. Many rookie investors are getting anxious by the volatile stock market.
It’s being estimated that people who bought on the rise lost roughly 96.3 billion won ($84.3 million).
With Big Hit stock price taking a nosedive, investors and experts are on the lookout to see what changes next week.
What are your thoughts on this?