YG Entertainment Stocks Jump 7.51 Percent After Psy Places 2nd on Billboard Hot 100
YG Entertainment is continuing to reach new heights thanks to Psy′s major success.
With news of Psy’s historic achievement on the Billboard Hot 100 dominating the headlines, YG Entertainment’s stocks took a 7.51 percent jump to 93,100 won on September 27 compared to the previous day.
Just a few days prior, on September 25, YG Entertainment shares hit its highest point to date at 96,800 won, also buoyed by Psy’s success.
The jolt Psy has given YG Entertainment’s stocks is undeniable as a look at its progress the last few months reveals a big climb from its lowest point of 44,200 won just this past July to today’s standing at 93,100 won.
Some stock analysts even estimates that the Gangnam Style syndrome alone will provide YG Entertainment with a 248 billion won income alone and sales margins in the 7.2 billion won range in 2012.
Insight DI, the company of Psy’s father, Park Won Ho, also hit its maximum earning for the day.
Photo Credit: KOSDAQ, Hea Jung Min, YG