[Alpha Biz= Reporter Kim Sangjin] YG Entertainment's stock is showing strong performance.
As of 10:18 AM on the 21st, YG Entertainment (122870) shares were trading at 40,150 KRW, up 6.78% from the previous trading day. Shares of YG PLUS (037270), which handles music distribution, surged by 29.85%, hitting the upper limit, and were trading at 3,480 KRW.
The surge in stock prices is attributed to the popularity of the new song "Apartment (APT)" by BLACKPINK's Rosé, featuring Bruno Mars. The track has topped major domestic music charts, contributing to its success.
In the second quarter of this year, YG Entertainment reported consolidated revenue of 90 billion KRW and an operating loss of 11 billion KRW, indicating disappointing performance. However, analysts predict that the company's financials will turn around starting next year.
알파경제 Kim SangJin (letyou@alphabiz.co.kr)
