K-pop record label sees valuation drop by $420 million on NewJeans exit
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 29 2024
0mins
Source: MarketWatch
Hybe's Market Impact: South Korea's leading music producer Hybe experienced a market capitalization loss of over $420 million following news that K-pop girl group NewJeans plans to split from its subsidiary Ador due to alleged mistreatment.
NewJeans' Announcement: In an emergency press conference, members of NewJeans announced their intention to terminate their contract with Ador and pursue an independent career, resulting in a 7% drop in Hybe's shares.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
