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View of Naver Headquarters (Photo: Naver) |
[Alpha Biz= Paul Lee] Naver's stock has fallen by more than 6%, dropping below 180,000 won.
On Tuesday, according to the Korea Exchange, Naver closed at 179,600 won, down 12,200 won (6.36%) from the previous day.
Institutional investors and foreigners led the stock decline, with net sales of 54.7 billion won and 50.6 billion won, respectively. On the other hand, individual investors bought a net 103.8 billion won.
This is the first time Naver’s stock has closed below 180,000 won since November 11 of last year, about five months ago.
Lee Kyung-min, a researcher at Daishin Securities, noted, "The expectation that the contribution of the commerce app to performance will be delayed until the second half has raised concerns about the first-half earnings."
Earlier, KB Securities lowered its target price for Naver from 280,000 won to 260,000 won, a 7.1% reduction.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
