The stock price of the production company fell despite the success of Song Hye Kyo's 'The Glory'.
On January 2nd, Song Hye Kyo's 'The Glory' was ranked #6 worldwide on Netflix but Studio Dragon's stock fell for three days in a row. Studio Dragon's subordinate company produced 'The Glory'. Analysts say the market is more sensitively responding to China's ban on Korean culture than individual projects' success.
Previously, Studio Dragon's stock rose over 10% in hopes of China lifting its ban on Korean content. But experts say investors should approach China's momentum conservatively. One insider commented, "You have to assume the ban is still in effect until you see Chinese broadcast station airs Korean content."
Meanwhile, Song Hye Kyo's 'The Glory' has been a hit since its release as it is currently ranked at #6 worldwide in Netflix TV shows category and was ranked at #5 worldwide on January 1st according to FlixPatrol. 'The Glory' was released on December 30th.