In today’s briefing:
- EOFlow (294090 KS): Suitably Pumped
- FSS Head Lee Made an Urgent TV Appearance Today to Discuss the Resumption of Short Selling
- Shift Up IPO – The Positives – All Games Have Done Well
- Shift Up IPO – The Negatives – Changing Monetisation Model, Censorship Issues
- A Pop in Major K-Pop Stocks Driven by Potential Easing of Korean Contents Restrictions by China
EOFlow (294090 KS): Suitably Pumped
- For a company that strives to improve people’s lives, investors in EOFlow (294090 KS) shares have mostly faced a world of pain over the past year.
- After Insulet Corp (PODD US) filed a lawsuit on the 8th August 2023, accusing EOFlow of misappropriating trade secrets, patent infringement, and trademark dilution, shares declined ~88% by year-end.
- Earlier this month, the courts quashed Insulet’s preliminary injunction. EOFlow is up 200%. Insulet is up 3% (?). And Medtronic (MDT US), EOFlow’s prior suitor, is no doubt weighing options.
FSS Head Lee Made an Urgent TV Appearance Today to Discuss the Resumption of Short Selling
- Lee urgently appeard on TV today and said, “In June, we will explain whether and when short selling will be resumed, and what criteria we might use for the resumption.”
- He noted considering flexible partial short selling resumption even if only some conditions are met, contrasting the Presidential Office’s stance from two days ago.
- Presidential Office led short selling ban, now likely under FSC/FSS jurisdiction for resumption.
Shift Up IPO – The Positives – All Games Have Done Well
- Shift Up plans to raise up to US$320m in its upcoming South Korean IPO.
- Shift Up is a South Korean games developer, which as released three games so far for the global markets.
- In this note, we talk about the positive aspects of the deal.
Shift Up IPO – The Negatives – Changing Monetisation Model, Censorship Issues
- Shift Up (462870 KS) plans to raise up to US$320m in its upcoming South Korean IPO.
- Shift Up is a South Korean games developer, which as released three games so far for the global markets.
- In this note, we talk about the not-so-positive aspects of the deal.
A Pop in Major K-Pop Stocks Driven by Potential Easing of Korean Contents Restrictions by China
- The major K-Pop stocks had the biggest up day so far this year on 23 May, driven by potential easing of Korean cultural contents restrictions by the Chinese government.
- In the past nine years, there has been a ban on Korean singers’ performances in China.
- Among the major K-Pop stocks, we continue to have a Positive View on S.M.Entertainment Co (041510 KS) but bearish on HYBE (352820 KS) and YG Entertainment (122870 KS).
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