BTS
The shares of HYBE fell sharply this Monday after the return performance of the group BTS Saturday attracted a smaller crowd than expected.
The share was trading at 288,500 won ($191) at 1:59 p.m., down 16.13% from the previous session, according to the Korea Exchange.
HYBE is the parent company of BTS‘s agency, BIGHIT MUSIC.
The shares of HYBE climbed to a recent peak of 401,500 won on February 23 due to expectations surrounding the return of BTS before closing at 344,000 won Friday, then fell into the 288,000 won range starting this Monday afternoon.
The group organized the show, titled “BTS Comeback Live: Arirang”, at Gwanghwamun Square, in central Seoul. Government estimates evaluate the crowd at about 48,000 people, while HYBE claims that about 104,000 people attended. Previous projections were much higher, with police estimating up to 260,000 people.
The decline in HYBE‘s share price seems to be the result of a participation in the performance lower than expectations, as well as criticisms over the scale of the public personnel deployed for the event.
The police and local authorities deployed thousands of personnel members for crowd control and safety management Saturday, based on projections of 200,000 to 260,000 participants. Police officers, emergency responders, and city officials were stationed at Gwanghwamun Square and nearby areas to manage traffic, monitor safety risks, and respond to potential incidents.
Journalist: Shawn
Translator: Shawn
Source: Netflix sreenshot
