81

19

News
Posted by Sophie-Ha Wednesday, August 4, 2021

SM Entertainment's stock price soar to an all-time high after acquisition rumors

AKP STAFF

The stock prices of SM Entertainment along with all its affiliates are rising due to the acquisition rumors.

On August 4, SM Entertainment shares closed at 71,900 KRW (63 USD) per share, which is up 9,200 KRW (8 USD) per share, a 14.67% increase from the previous day. The share price reached 72,800 KRW (63.64 USD) during trading hours, a new all-time high for SM Entertainment's stock.

SM Entertainment's affiliate SM C&C was up 21% compared to the previous day, trading at 6,000 KRW (5.25 USD) per share, and SM Life Design is trading at 3,560 KRW (3.11 USD) per share, up 6.91%.

According to the financial investment industry, there has been news that CJ, HYBE, as well as Kakao, are competing to acquire shares of SM Entertainment.

  1. misc.
33 21,555 Share 81% Upvoted

14

EverydayJiayou
EverydayJiayou1,139 pts Wednesday, August 4, 2021 2
Wednesday, August 4, 2021

Don't be confused by these articles. SM is not looking to sell all of its shares. It will still continue on as SM Entertainment, and it will still make its own decisions. I believe that SM rejected HYBE's previous offer because it was not a partnership they were looking for, since HYBE was already successful in the idol industry, just as SM was. Kakao on the other hand would have a lot more to offer SM! Case and point, under Kakao Entertainment is Melon, a very popular South Korean music streaming service. Kakao also delves into video games, fashion, social media apps, and more! With SM's recent introduction of the SMCU, and with their innovative ideas involving new technology and social media, I believe that Kakao would be a great fit for buying those shares!

Share

2 more replies

12

kpopstay
kpopstay286 pts Wednesday, August 4, 2021 5
Wednesday, August 4, 2021

Sell to anyone but hype.

Share

5 more replies

SHOW ALL COMMENTS

allkpop in your Inbox

THE TOP 10 STORIES DELIVERED DAILY
ITZY
24 hours ago   59   10,659
ITZY
24 hours ago   59   10,659
New Message

SEND