This article is part of our coverage of HYBE vs. ADOR CEO Min Hee Jin. You can read more and view the entire timeline here.
HYBE‘s stocks have been plummeting lately. Starting from their feud with ADOR‘s Min Hee Jin, and later fuelled by criticism of poor management of artists and questionable associations with executives like Scooter Braun and Lucian Grainge, prices have been absolutely sinking.
HYBE’s Stock Price Continues To Plummet Amidst Ongoing Controversies
On May 21, KST, it closed at ₩190,000 KRW (about $139 USD), and on May 22, KST, it went down further, at ₩187,000 KRW (about $137 USD). Notably, the price is very close to the lowest recorded value of HYBE shares in 2024, which was ₩186,000 KRW (about $136 USD) on March 7.
In light of Min Hee Jin’s press conference on May 31, 2024, it seems that things could be looking up for the company. During the press conference, Min Hee Jin declared her willingness to compromise with HYBE. Although they have been embroiled in a heavy feud, she concluded that she was open to reconciliation.
Following the news, stocks immediately soared. Around 2.47pm, 17 minutes after Min’s press conference began, stocks rose to ₩199,000 KRW (about $145 USD), from a low ₩193,000 KRW (about $140 USD) right before the press conference.
At the time of writing at 5.07pm KST, after the press conference concluded, it has hit ₩200,000 KRW (about $146 USD).
While specific reasons cannot be pinpointed, the timings justify that Min’s press conference has affected the stocks in one way or another. Read more about Min’s press conference and openness to reconcile with HYBE below.
Min Hee Jin Hopes To Reach A Compromise With HYBEhttps://t.co/81jBpENlCL
— Koreaboo (@Koreaboo) May 31, 2024
HYBE vs. ADOR CEO Min Hee Jin
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