SNSD’s “Mr. Taxi” Boosts SME’s Stock Value
The announcement of SNSD’s “Mr. Taxi” has successfully revived SM Entertainment’s declining stock value following the recent natural disaster in Japan.
Following the massive natural disasters in Japan, SM Entertainment’s stock value took a noticeable dip downwards. However, within the past few days it has been experiencing a great upwards movement.
Due to the massive earthquake that struck Japan on March 11th, it was speculated that the Korean “hallyu” music craze may have met its end in Japan, as SME’s shares took a drastic plunge from 20,000 won per unit to 16,000 won per unit.
However, on April 5th, the Korean entertainment company’s stock value rose by 6.35% and closed at 19,250 won. As of today, the trading volume increased by almost twice, from 740,000 shares to 1.27 million shares. This raise in value, of nearly 10% in two days is seemingly attributed to the recent announcement of SNSD’s upcoming, exclusively Japanese single “Mr. Taxi”.
As reported earlier, SNSD’s “Mr. Taxi” is slated for release on April 27th after being pushed back following the recent natural disaster.
source : GoKpop