The moment Galaxy Corporation announced that they would hold a press conference about G-DRAGON’s future. YG Entertainment Stocks took a hit.
On December 22nd, YG Entertainment’s stock price closed at 52,000 won (approximately 40 USD), marking the fourth consecutive day of decline. This decline, equivalent to a decline of 5.11%, was mainly due to the recent news surrounding G-DRAGON impacting the stock price performance.
YG Entertainment’s stock price fell sharply in four days, dropping 2,800 won (approximately $2.16) from 54,800 won ($42.19) to 52,000 won ($40.03), a decline of 5.11%. This decline wiped out the company’s market capitalization by approximately 83.5 billion won (approximately US$64 million), which currently stands at 963.9 billion won (US$742.6 million).
This is not the first time that G-Dragon has affected YG Entertainment stock, as in June of this year, YG Entertainment lost a market capitalization of $130 million following the news that G-Dragon did not renew his contract. lost.
