On the 29th, HYBE’s stock price fell by over 3% following the announcement by NewJeans, a group under HYBE’s subsidiary ADOR, about terminating their exclusive contract. HYBE’s stock had already decreased by 3.78% the previous day.
According to the Korea Exchange, HYBE’s stock opened on the 29th at 190,000 KRW, down 6.63% (13,500 KRW) from the previous trading day, with shares dipping as low as 189,300 KRW. The stock price later reduced its losses, trading at 196,500 KRW, down 3.44%, by 11:20 AM.
HYBE’s stock had been rising due to expectations for BTS’s complete group activities, reaching a peak of 217,500 KRW over four trading days since the 16th. However, amid a slump in the domestic stock market and with ADOR’s deadline to respond to NewJeans’ content certification approaching, the stock fell by 3.78% on the 28th, closing at 203,500 KRW.
NewJeans had initially demanded ADOR rectify issues related to unfair treatment on the 13th, and announced on the 28th their decision to terminate their exclusive contract with ADOR by midnight on the 29th.