BTS New Year's Eve Times Square 2019
Noam Galai/Getty Images
Music

BTS Manager Big Hit Entertainment Sees Stock Plummet Over 20%

After share prices doubled for trading debut.

10.0K

BTS Manager Big Hit Entertainment Sees Stock Plummet Over 20%

After share prices doubled for trading debut.

Big Hit Entertainment, the management company behind hit K-pop group BTS, is suffering losses just one day after its stock market debut on October 15.

The company’s stocks fell as much as 23 percent from their initial public offering (IPO) price, ₩ 135,000 won (approximately $117 USD), which qualified BTS’ seven members as multi-millionaires. Buzz surrounding Big Hit’s IPO caused the company to double its share prices, leading to a 30 percent surge and subsequent crash shortly after. Prices peaked at ₩ 327,500 won (approximately $285 USD) and now, stocks are continuing to decrease.

In 2019, Big Hit reported a staggering $86 million USD in profit. Through its IPO, the company raised over $800 million USD from investors and is now valued at approximately $4 billion USD.

Read Full Article
Text By
Source
Reuters
Share this article

What to Read Next

KAWS Debuts Custom Take on the Coveted Sacai x Nike LDWaffle
Footwear

KAWS Debuts Custom Take on the Coveted Sacai x Nike LDWaffle

The two unique pairs will be auctioned online.
By /
7.0K
MUJI's Minimalist Reusable Face Masks Are Now Available in the U.S.
Culture

MUJI's Minimalist Reusable Face Masks Are Now Available in the U.S.

The COVID-fighting essentials feature three protective layers.
By /
7.0K
Apple Releases New iPad Air, Starting at $599 USD
Culture

Apple Releases New iPad Air, Starting at $599 USD

In brand new colorways including pastel green and blue.
By /
14.8K
Rick Owens and Sustainable Sneaker Label Veja Reveal New Collaboration
Footwear

Rick Owens and Sustainable Sneaker Label Veja Reveal New Collaboration

Revamping Veja’s Runner Mid and Runner 2.
By /
4.4K
The Pleated Skirt Is the Must-Have Piece This Fall
Fashion 

The Pleated Skirt Is the Must-Have Piece This Fall

Get the look with our favorite pieces.
By /
7.1K
The Best Apple iPhone 12 Cases To Shop Now
Culture 

The Best Apple iPhone 12 Cases To Shop Now

From protective bumpers to minimal designs.
By /
21.5K
Madison Beer, TWICE, (G)I-DLE and More Collaborate on K/DA's Debut EP 'ALL OUT'
Music

Madison Beer, TWICE, (G)I-DLE and More Collaborate on K/DA's Debut EP 'ALL OUT'

See the full roster here ahead of the anticipated release.
By /
1.1K
FaZe Clan to Host 'Among Us' Tournament With $25,000 USD Prize
Culture

FaZe Clan to Host 'Among Us' Tournament With $25,000 USD Prize

Watch the “sus” drama unfold.
By /
7.2K
Timex's Camper Watches Receive Colorful Illustrations From Tokyo-Based Artist, Face
Fashion

Timex's Camper Watches Receive Colorful Illustrations From Tokyo-Based Artist, Face

Highlighting the charm of checking the time on an analog timepiece.
By /
4.3K
The StrangeLove Skateboards x Nike SB Dunk Low Is Restocking
Footwear

The StrangeLove Skateboards x Nike SB Dunk Low Is Restocking

The coveted kicks have been resold at prices as high as $1,500 USD.
By /
23.1K
More ▾
 

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

Already whitelisted us? Refresh page

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. “Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.