(Seoul=News1) Reporter Moon Hye-won: Shares of SOOP (067160) are dropping more than 9% early in the trading session. This decline is attributed to the issuance of a ‘sell’ report amid growing concerns about the contraction of the live streaming market.
As of 10:21 a.m. on the 6th, SOOP is trading at 84,200 won, down 8,800 won (9.46%) from the previous day. The stock opened at 92,100 won and continued to fall.
Mirae Asset Securities downgraded its investment opinion on SOOP to ‘sell’ from ‘trading buy’ (short-term buy), freezing investor sentiment.
In a report, Mirae Asset Securities analyst Lim Hee-seok noted that starting from 2021, when short-form content began to proliferate, the usage time for domestic streaming platforms significantly declined. He emphasized that a slowdown in SOOP’s top-line growth due to reduced traffic is inevitable.
According to Mirae Asset Securities, SOOP’s average monthly unique visitors (MUV) in the fourth quarter of last year was 6 million, down 17% from the same period the previous year.
Analyst Lim predicted, “Given the lack of a clear traffic advantage over competitors like TikiTaka, MUV is expected to shrink by more than 10% year-on-year in the first quarter.” He assessed that caution is needed for investment, and the target price for SOOP was significantly lowered by approximately 41.4%, from 140,000 won to 82,000 won.