S.M Entertainment Stock Soars!

 

S.M Entertainment, the pioneer of K-pop stock price has been struggling for the past years sliding behind and getting sandwiched between JYP and YG in market capitalization. The stock price has been trading under 35,000 krw until rumors of the founder, Lee Soo-Man planning to sell his stake in the company. It was said that Naver Corp and Kakao Corp were battling behind the scene to be the buyer of the 18.7% that belongs to Soo-Man. After the report, S.M. Ent came out and denied the rumors. Now, it begs the question, did S.M start the rumor in-order to propel it's struggling stock price? We might not know but the stock price has been up 56% since the beginning of May 2021 trading above 55,000krw. In the coming months, we will know if Lee Soo-Man stake is for sale if it's indeed sold. Below are charts showing the stock price performance.