Looks like fans will have to wait longer for their favorite YG groups to make a return.
A recent report by security firms has lowered their target price for YG and its all due to the comeback delays triggered by the current coronavirus situation.
YG Entertainment recorded its 52-week low stock price on the 19th of last month, this came after fears over the coronavirus increased in the country. The stock price was at 18,950 won, the agency’s lowest price since it went public in 2011.
Analysts had originally predicted that YG would see a sharp rise in its profit if BIGBANG renewed their contracts with them. The group did but the coronavirus situation hit the entire world grinding a lot of things into a halt including their groups’ comebacks.
BLACKPINK’s comeback has been delayed too many times already to keep count and it’s reportedly been delayed once again according to analysts who shared that their comeback was pushed back to the middle of the second quarter. Meanwhile, BIGBANG’s comeback has been delayed to the second half of this year.
BIGBANG was supposed to make their grand return to the stage with their Coachella performance. However, the U.S has recently become the epicenter of the pandemic making it impossible to hold concerts or festivals. The situation is very risky and uncertain. It’s highly unlikely that any kpop group or artist will ever hold a concert anywhere in the U.S in the foreseeable future unless a vaccine is developed.
Researcher Kim also added that the sluggish earnings will continue this year until BIGBANG makes their return to activities. Uanta Securities predicted that YG will record its largest operating profit reaching as much as 30 billion won if BIGBANG comes back this year.
What are your thoughts on the situation?
Source: (A)
