SM Stocks Take a Dip Following Jessica’s Departure from Girls’ Generation
In the wake of Jessica’s departure from Girl’s Generation, which was accompanied by rumors of marriage as well as conflict between the girl group members, SM Entertainment stocks have taken a dip.
From September 29 to October 1, the shares fell 3,350 won from 40,750 won to 37,400 won, which was the market closing price on October 1. With SM’s total number of shares amounting to roughly 20.6 million, the dip resulted in a loss of 69.1 billion won (approx. 65 million USD) for the label, a drop from a total worth of 841.4 billion won to 772.2 billion won. While SM was on the recovery following the EXO-Kris controversy earlier in May of this year, their stocks have hit yet another decline.
Meanwhile, the exact details of the situation are yet unclear, as Jessica and SM Entertainment’s respective statements have shown disparities, as to whether Jessica in fact expressed that she wanted to leave the group, or she was unilaterally forced out. There have so far been no further statements on the issue.