YG’s Stocks Drop After News Of Seungri Being Booked + Other Agencies’ Stocks Also Fall
YG Entertainment’s stocks plunged following news of the police booking BIGBANG member Seungri.
On March 11 at 2:40 p.m. KST, YG’s stock prices fell 6700 won (approximately $5.90) and 15.61 percent to 36,850 won (approximately $32.47). YG’s stocks decreased for five days in a row starting February 26, when the first report about Seungri allegedly seeking sexual escort services for foreign investors was released. On March 8, YG’s stocks rose back to 43,000 won (approximately $37.89), but their stocks are falling again following news of the police booking Seungri on March 10.
Meanwhile, SM Entertainment and JYP Entertainment have also seen a decline in their own stocks, with SM’s stocks priced at 39,900 won (approximately $35.16), which is a 11.92 percent decline from the previous day, and JYP’s stocks at 29,450 won (approximately $25.95), a 2.16 percent decline from the previous day.
FNC Entertainment’s stocks have also dropped greatly, as it is valued at 9,090 won (approximately $8.01), which is a 11.32 percent fall from the previous day. Cube Entertainment’s stocks fell 5.03 percent to 5,470 won (approximately $2.82) as well.