Following Galaxy Corporation’s announcement of a press conference regarding G-Dragon’s future, YG Entertainment has faced a significant downturn in its stock performance. On December 22, YG Entertainment’s stock closed at 52,000 won (approximately $40), marking a continuous decline for the fourth consecutive trading day. This decrease of 5.11% is largely attributed to the recent developments surrounding G-Dragon.
G-Dragon’s departure news impacted the company’s market capitalization.
Over four days, YG Entertainment’s shares plummeted from 54,800 won (about $42.19) to 52,000 won (about $40.03), resulting in a loss of approximately 83.5 billion won (around $64 million) from the company’s market capitalization. Currently, YG Entertainment’s market cap stands at 963.9 billion won (about $742.6 million).
This decline echoes a similar market reaction in June earlier this year when news broke that G-Dragon did not renew his contract, causing YG Entertainment to lose $130 million in market cap value.
