As of 2:23 p.m. on August 9th, HYBE’s stock was at 172,700 won, reflecting a decrease of 6.04% (11,000 won) from the day before.
HYBE closed at 183,800 won in the KOSPI market the day before, with a 2,300 won (1.27%) increase from the previous day. However, the stock saw a significant drop of 4% during early trading.
HYBE had announced their consolidated sales for the second quarter to be 640.5 billion won, the highest ever for a quarter, two days prior on the 7th. This news caused a surge in the stock price of up to 10% during the day.
Despite the negative news of Suga’s drunk driving incident on his electric scooter and reports of Chairman Bang Si-hyuk and AfreecaTV BJ Juice Seyeon being spotted in Beverly Hills, California on the 8th, the stock continued to decline.
Suga initially stated that he fell while attempting to park an electric scooter after having one glass of beer and traveling 500 meters to reach his home. However, after an investigation by the police, it was discovered that Suga’s blood alcohol concentration was above the legal limit for driving and that he had actually traveled more than 500 meters, leading to widespread criticism.
Despite an explanation from HYBE, controversies continued surrounding Chairman Bang Si-hyuk after he was seen walking on the street with BJ Juice Seyeon and her older sister. Photos of him taking pictures of Juice Seyeon also spread in online communities. However, HYBE clarified that Bang Si-hyuk had coincidentally met Juice Seyeon’s older sister at a gathering with mutual acquaintances and had simply offered her advice on dealing with impersonators. It was later revealed that Juice Seyeon and her sister had visited LA and had asked Bang Si-hyuk for recommendations on tourist spots and restaurants. As a kind gesture, he made reservations and guided them during their trip.
Individual investors continue to express their frustrations with HYBE, as ongoing issues plague the company. In online stock discussion forums, they have not held back in their criticism, with comments such as “Why did they only give shareholders a 0.38% dividend? I wonder if Juice Seyeon also received the same”, “All I can do is curse”, and “Bang Si-hyuk’s risky decisions”. Some even accused Bang Si-hyuk of trying to cover up Suga’s drunk driving incident and questioned his priorities as Chairman. The frustration among shareholders is evident, with statements like “The owner’s risk is becoming more apparent”and “The stock has dropped by 3% due to the electric scooter issue and another 3
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