nme.com
06.12.2023 / 10:15
YG Entertainment share price shoots up after BLACKPINK contract renewal
YG Entertainment has shot up after it announced that K-pop girl group BLACKPINK have renewed their contracts with the agency.The share price of YG Entertainment soared as much as 29 per cent today (December 6 KST), following the agency’s announcement that BLACKPINK have re-signed their contracts after a prolonged negotiation process.According to CNBC, the share price of YG Entertainment had closed at ₩48,000 (US$36.50) the day prior, but surged to as high as ₩61,900 (US$47.15) today. The price of the company’s stocks have since cooled slightly, hovering at around ₩60,000 (US$65.70) at time of writing.Meanwhile, Bloomberg also notes that the stock price of YG Plus, which is partially owned by YG Entertainment, jumped up by the daily limit of 30 per cent.