2024-01-11 03:17:40
“Not long ago, the stock price fell as if it would disappear at any moment, but now I see that it has risen 66% from the October bottom.” “I thought it would work out somehow because the entire nation was using it, so I held on and held on, and I finally made it even!” “I envy you. “I’m still at -40%… but I’ll have the principal back by the time my child goes to college, right?”
As Kakao stocks soared on the morning of the 11th, a debate broke out among individual investors. As of 11:40 am on this day, Kakao is trading at 61,500 won, up 3.9% from the previous day. It rose to 61,800 won at one point during the day, entering ‘Yukkao’ for the first time since April of last year.
Ryan, a popular Kakao character./Kakao
The reason Kakao returned to the 60,000 won level on this day following 9 months was due to the strong buying power of foreigners and institutions. According to the Korea Exchange on the 11th, foreigners and institutions net purchased 330 billion won worth of Kakao stocks in the past month. This is the amount thrown in by individual investors who are tired of the long-term slump in stock prices.
Kakao emerged as a national stock in 2021, reaching an intraday price of 173,000 won. Individual investors swept up close to 3 trillion won in Kakao stocks that year. The following year, in 2022, individuals purchased more than 2 trillion won in Kakao stocks. The number of Kakao minority shareholders exceeded 2 million.
However, as global high interest rates prolonged, Kakao’s stock price, which was a representative growth stock, began to lose strength. Due to the continuous decline in stock prices, shareholders were cut in half or three, and the number of minority shareholders decreased to 1.93 million as of the end of September last year (still ranked second following Samsung Electronics with 5.67 million). In October last year, when suspicions of market manipulation arose during the competition to take over management rights of SM Entertainment, the stock price finally sank to an intraday low of 37,300 won.
Graphics = Chosun Design Lab Jeong Daun
Kakao’s stock price was so sluggish that it even earned the stigma of being ‘maligned’ in the ‘National Democratic Party’, but with the recent rebound in Kakao’s stock price, it is receiving new attention. This month, securities companies (Mirae Asset and Hyundai Motor Securities) even raised their target price to 80,000 won, saying, “It is time to go up.”
A securities industry expert predicted, “Last year, Kakao had the worst year since its founding, and its stock price plummeted in the process. However, this year will look different from before for three reasons.”
Kakao, which has embarked on a management reform, is expected to perform better than last year by controlling costs, and negative factors such as management judicial risk that dragged down its stock price are disappearing. In addition, as the global high interest rate environment is waning, there is a high possibility that it will receive attention once more as Korea’s representative growth stock. will be.
Graphics = Chosun Design Lab Jeong Daun
Meanwhile, as of 11:30 am on this day, Kakao Pay is trading at 56,700 won, up 19%, Kakao Bank is trading at 30,200 won, up 12%, and Kakao Games is trading at 27,300 won, up 4%. Among the Kakao Group, the stock with the strongest rise today is Kakao Pay. On this day, the trading volume of Kakao Pay soared to over 2.4 million shares, and the stock price immediately rose to 58,000 won during the day. Kakao Pay’s usual trading volume was only 100,000 to 200,000 shares.
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