Following the chaos of Jessica's departure from Girls' Generation and Luhan's current attempt to depart from EXO and SM Entertainment, the agency is suffering a massive blow in the stock market.
Not only did stock prices drop 3,100 KRW immediately following the news but the agency has also now dropped in ranking to YG Entertainment in relation to market capitalization (market value or stock price multiplied by total shares offered).
For a very long time, SM has been on top, but following their latest scandal, the stock price hit a 52-week low and the market capitalization has dropped to 644.2 billion KRW (~ $600 million USD), putting YG Entertainment in first place with a market capitalization of 743.3 billion KRW (~ $700 million USD). To put things in perspective, SM's market cap was around 1.4 trillion KRW (around $1.3 billion) back in October of 2012.
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Just today, SM dropped a total of 5,450 KRW (around 15%) and is now trading at 31,200 KRW (around $29) a share, whereas YG is trading at 49,350 KRW (around $46) a share. Currently on the KOSDAQ market capitalization list, YG ranks at 25 while SM ranks at 32.
Meanwhile, other notable mentions are 1theK ranking at 12 and Key East Entertainment ranking at 159 after the Lee Byung Hun scandal.
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