![Pinterest](https://pinterest.com/pin/create/button/?url=https://news1global.com/etc/article/426198/&media=https://cdn.news1global.com/news1global/2024/11/13122754/CP-2022-0006-17653337-thumb.jpg&description=YG Plus stock dropped 11% on Tuesday, following a surge from Rosé's "APT." Poor earnings and profit-taking contributed to the decline.){kind=link}
On Tuesday, YG Plus, which had seen a dramatic surge in stock prices following the success of BLACKPINK’s Rosé’s “APT.,” experienced a sharp decline, with shares dropping by 11% during intraday trading.
At 10:08 a.m. that day, YG Plus’s stock was trading at 4,290 won ($3.07), a decrease of 535 won ($0.38), or 11.09%, from the previous day.
The stock had previously soared, driven by the global success of Rosé’s song “APT.,” which features Bruno Mars. On October 18, the stock closed at 2,680 won ($1.91), but by October 28, it had surged by 166%, reaching 7,130 won ($5.09).
However, following this meteoric rise, individual investors began selling off shares to secure profits, with net sales amounting to 6.9 billion won ($5.2 million) from October 28 to the present. This has led to a daily decline in the stock price.
Additionally, poor earnings performance contributed to the price drop. On Friday, YG Plus disclosed its third-quarter results, reporting consolidated revenue of approximately 40.9 billion won ($30.9 million), and an operating loss of around 15 million won ($845,000). Revenue had decreased by 31.36% year-on-year, and the company reported negative operating profits.