Tuesday was another deservedly bad day for South Korea’s much-hated S.M. Entertainment company, as its stock price dropped 10% in trading.
It was only a few weeks ago when S.M. Ent’s stock displayed a most precipitous decline — on October 10th, when its price hit the bourse’s limit of -15% and was suspended from trading. That was the market’s reaction to news that day that Lu Han had filed suit to formally void his contract with the maliciously vile company.
It was also on that date that Y.G. managed to overtake S.M. and become the largest entertainment company in South Korea based on market capitalization. Today, Y.G. is showing a market cap of 618 billion to S.M.’s 525 billion.
A six-month chart shows a 50.95% decline in S.M.’s share price. The first steep drop occured in May when the Chinese-Canadian megastar Wu Yifan quit the company. The second notable plunge was in September when Jessica Jung was forced out of SNSD.