The YG Entertainment stock price dropped the second that Galaxy Corporation announced their press conference regarding G-Dragon’s future.
After four consecutive trading days of decline, YG Entertainment’s stock price ended the day on December 22 at 52,000 won (about 40 USD). The stock’s performance has been affected by recent news surrounding G-Dragon, which has led to a 5.11% decrease.
The stock of YG Entertainment fell precipitously over four days, dropping 5,11%, or 2,800 won, from 54,800 won (42.19 USD) to 52,000 won (40.03 USD). With this drop, the company’s market cap dropped by about 83.5 billion won (about 64 million USD), bringing it down to 963.9 billion won (742.6 million USD).
The news that G-Dragon chose not to renew his contract cost YG Entertainment $130 million in June, so this isn’t the first time he’s had an impact on the company’s stock price. You can also join us on our Twitter account for more news relating to K-pop.
