HYBE stock has taken a major hit after the recent news from the BTS members themselves.
On June 14, BTS celebrated 2022 FESTA with an hour-long video. The members sat down for a meal and some drinks. During the video, they spoke about many subjects and touched on the most important part that has since gone viral, their group hiatus. They announced they shall be taking an extended indefinite hiatus from group activities as they begin the second chapter of their lives. The news came as a huge shock to the fans and the members spent a good portion of the video discussing what led to making this decision.
As soon as the stock market opened, HYBE’s stock began to tumble. As of this writing, HYBE’s stock has lost more than 25% of its value thus far.
The opening price for HYBE’s stock was listed as 168,00 won [about $130], the previous day’s closing price was 193,000 won [around $150]. As of this writing, the stock price dropped to a low of 140,000 won [$108].
Thus, HYBE’s valuation dropped by a staggering $1.65 billion and the market has not closed yet. Some investors are worried about the future of the company now that its biggest artists are taking a group hiatus.
What do you think of this?
