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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Minyoung] Kakao Pay has hit a record low again since its listing.
As of 2:30 p.m. on the 13th, Kakao Pay is trading at 29,350 won, down 2.49% from the previous day's closing price.
As a result, Kakao Pay will break the new low price, which is lower than the previous lowest price of 29,850 won.
The fall in Kakao Pay's stock price is due to a series of massive selling sprees, led by foreign investors. More than 60,000 shares of net selling are also being released on CLSA, a Hong Kong-based securities firm.
This is due to the company's continued operating loss and the sluggish stock price of its parent company Kakao, which holds a 46% stake.
There are also concerns that Alipay, which holds a 32% stake, may sell an additional large volume.
However, Kakao Pay is expected to reduce its deficit in the second quarter of this year compared to the same period last year.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
