Monday, June 27, 2011

[News] SM Stock Price Continues to Rise with SHINee Effect

SM Entertainment’s stock price has been increasing for two days in a row as idol group SHINee’s venture into Japan is expected to be successful.

Currently at 11 a.m., 27 June, SM’s stocks are being traded at 21,250 Won, 1,100 Won (5.46%) up from the previous day (20,150 Won). SM’s stock price was 10% down due to its slump in the first quarter sales on 17 May and then rebounded to go over 20,000 Won on 24 June.

Lee Sungheon, High Investment Securities researcher, explained, “The New Korean Wave led by Kpop has been proved to be competitive enough to advance not only to Asia, including Japan, but also to the world stage. The Korean Wave is not a temporary event, but is expanding to the world as a trendy growing industry.”

He added, “It is on the rise because of Kpop’s possibility to grow as the center of the New Korean Wave. SM’s chance to improve their sales in the latter half of the year and next year is higher than any time thanks to the diversity of SM’s singer portfolio, including SHINee’s successful debut in Japan.”

Credit: Jujugal.

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