News of Girls’ Generation’s comeback raises SM Entertainment stock value by $93 million USD
Even before officially making their return, Girls’ Generation is already having a huge impact. News of their upcoming comeback has helped raise the stock value of SM Entertainment by 100 billion KRW (approximately $93 million USD).
SM Entertainment had suffered a recent fall of 4.19% percent in their shares as of December 20th. However, on December 21st, Girls’ Generation’s “Dancing Queen” was released. They also announced their return to television and music programs in January, making this their first album in a year, since ‘The Boys‘.
Within two days of the announcement of their comeback, SM Entertainment’s shares shot up immediately and SM Entertainment’s market capitalization was increased by 100 billion KRW. This rise has brought SM Entertainment back as a competitor with major entertainment companies with a lot of trade volume such as YG Entertainment, as well as Loen Entertainment.
A stock market expert stated, “SM Entertainment is different because Girls’ Generation is one of their major acts and holds so much power with the ability to change their stock price.“