Kakao Group stocks, whose stock price has fallen by less than half since the beginning of the year, met another bad news: a ‘food shortage’. With the opening of the stock market on the 17th, there is a high possibility of a further decline in the stock price.
For two days from the 15th to the 16th, more than 2 million Kakao shareholders were nervous. This came as the forecast came out that a decline in the stock price of Kakao on Monday, when the market was held, was inevitable. Group stocks such as Kakao Bank, Kakao Pay, and Kakao Games are also expected to decline together. Shareholders’ losses are expected to increase as the stock prices of these ‘four kakao brothers’, which have already fallen by 50-70% compared to the beginning of the year, are highly likely to fall further.
Analysts are also coming out that the performance of Kakao Group shares will suffer in the mid- to long-term in terms of the damage to corporate trust due to this service failure. An official from a securities company said, “The dissatisfaction opinion of individual investors about Kakao with successive ‘split listings’ seems to be amplifying with this incident.”
Naver is also expected to be negatively affected. Although the damage was relatively small, it is because some services, such as Shopping Live, were also disrupted by Naver. U.S. stocks plummeted last weekend after a catastrophe. The Nasdaq Composite, which focuses on technology stocks, closed 3.08% lower than the previous day on the 14th. On the 17th, there is an observation that Kakao and Naver shareholders may face a ‘Black Monday’.
Reporter Sung Sang-hoon [email protected]