Get the latest gossip
HYBE, K-Pop Stocks Suffer Some of the Worst Declines in Brutal Week for Global Markets
HYBE and K-pop music stocks saw big drops in a bad week for global markets that saw Billboard Global Music Index stocks fall nearly across the board.
Music stocks were off sharply this week as global markets were roiled by worries about the health of the U.S. economy and Friday’s disappointing jobs report. The top stock, Believe, which gained 3.7% to 15.06 euros ($16.69), has a float of less than 4% after a consortium led by CEO Denis Ladegaillerie acquired nearly the entire share capital. Benchmark analyst cited concerns about “scalability, high production costs, and a potentially underwhelming profitability outlook” for the $2.3 billion Las Vegas venue.
Or read this on Billboard
