Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

I investigate special situations, pairs, and index rebalancing trades in Korea.

Korea / Special Sits, Pairs, Index Rebalancing

KOSPI 200 Reshuffle Final Update: Incoming/Outgoing (8 Each) & Passive In/Outflow Estimates

KOSPI 200 Rebalancing Trade Data: Recent Passive Flow, Volatility, Upside, & Liquidity

KOSPI 200 Rebalancing Results: List, Volatility, Upside, & Liquidity

KOSPI 200 Rebalancing Projection: Safe Bets & Those in Grey Area

Big Hit First Trading Day: Market Reception & Immediate-Term Ceiling Price

Big Hit: Fast Entry into KOSPI 200 & MSCI Korea

Big Hit Entertainment: Trading Strategy Post End of Lockup, KOSPI200 Fast Entry, & 3Q 2020 Earnings

The KOSPI200 Could Have a 'Big Hit' in December

Event-Driven

<p>Today is the first lock-up expiry day (15D).</p><table class="table table-striped">
<colgroup>
<col width="300">
<col width="100">
<col width="100">
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Lock-up"}'>Lock-up</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Qty."}'>Qty.</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"% of SO"}'>% of SO</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"% of SO+RCPS"}'>% of SO+RCPS</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Resumption"}'>Resumption</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"15 days"}' data-sheets-formula="=Bookbuilding!R[90]C[0]"><strong>15 days</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":205463}' data-sheets-numberformat='[null,2,"#,##0",1]' data-sheets-formula="=Bookbuilding!R[90]C[0]"><strong>205,463</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.0060704908841739125}' data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-formula="=Bookbuilding!R[90]C[0]"><strong>0.61%</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.005767583208510275}' data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-formula='=R[0]C[-2]/(googlefinance(R49C2, "shares")+R73C2)'><strong>0.58%</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":44134}' data-sheets-numberformat='{"1":5,"2":"yyyy\". \"m\". \"d","3":1}'><strong>2020. 10. 30</strong></td>
</tr>
<tr><td colspan="5" data-sheets-value='{"1":2,"2":"Source: KRX"}'>Source: KRX</td></tr>
</tbody>
</table><p>Unsurprisingly, the shares are again taking a hit as the price loses 5% this morning.</p><p>It is now 58% down from the peak reached on the market debut day.</p><table class="table table-striped">
<colgroup>
<col width="300">
<col width="150">
<col width="150">
</colgroup>
<tbody>
<tr><td colspan="3" rowspan="1" data-sheets-value='{"1":2,"2":"Status (₩B)"}'>Status (₩B)</td></tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Name"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>Name</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Big Hit Entertainment Co Ltd"}' data-sheets-numberformat='{"1":4,"2":"[$₩]#,##0"}' data-sheets-formula='=googlefinance(R3C[0], "name")'>Big Hit Entertainment Co Ltd</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>-</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Ticker"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>Ticker</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"352820"}' data-sheets-numberformat='{"1":4,"2":"[$₩]#,##0"}' data-sheets-formula='="352820"'>352820</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>-</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Market cap"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>Market cap</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":5026.159512}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[1]C[0]*R[9]C[0]/1000000000">5,026.2</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>-</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Price"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>Price</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":148500}' data-sheets-numberformat='{"1":4,"2":"[$₩]#,##0"}' data-sheets-formula='=googlefinance(R3C[0], "price")'>₩148,500</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>-</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Previous"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>- Previous</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":157000}' data-sheets-numberformat='{"1":4,"2":"[$₩]#,##0"}' data-sheets-formula='=googlefinance(R3C[0], "closeyest")'>₩157,000</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":-0.054140127388535034}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R5C[-1]-R[0]C[-1])/R[0]C[-1]">-5.41%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Open"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>- Open</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":149000}' data-sheets-numberformat='{"1":4,"2":"[$₩]#,##0"}' data-sheets-formula='=googlefinance(R3C[0], "priceopen")'>₩149,000</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":-0.003355704697986577}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R5C[-1]-R[0]C[-1])/R[0]C[-1]">-0.34%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - High"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>- High</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":151500}' data-sheets-numberformat='{"1":4,"2":"[$₩]#,##0"}' data-sheets-formula='=googlefinance(R3C[0], "high")'>₩151,500</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":-0.019801980198019802}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R5C[-1]-R[0]C[-1])/R[0]C[-1]">-1.98%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Low"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>- Low</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":147000}' data-sheets-numberformat='{"1":4,"2":"[$₩]#,##0"}' data-sheets-formula='=googlefinance(R3C[0], "low")'>₩147,000</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.01020408163265306}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R5C[-1]-R[0]C[-1])/R[0]C[-1]">1.02%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"52W high"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>52W high</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":351000}' data-sheets-numberformat='{"1":4,"2":"[$₩]#,##0"}' data-sheets-formula='=googlefinance(R3C[0], "high52")'>₩351,000</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":-0.5769230769230769}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R5C[-1]-R[0]C[-1])/R[0]C[-1]">-57.69%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"52W low"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>52W low</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":147000}' data-sheets-numberformat='{"1":4,"2":"[$₩]#,##0"}' data-sheets-formula='=googlefinance(R3C[0], "low52")'>₩147,000</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.01020408163265306}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R5C[-1]-R[0]C[-1])/R[0]C[-1]">1.02%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Trading volume"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>Trading volume</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":546352}' data-sheets-numberformat='{"1":2,"2":"#,##0"}' data-sheets-formula='=googlefinance(R3C[0], "volume")'>546,352</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>-</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - SO"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>- SO</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":33846192}' data-sheets-numberformat='{"1":2,"2":"#,##0"}' data-sheets-formula='=googlefinance(R3C[0], "shares")'>33,846,192</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>-</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - % of SO"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>- % of SO</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.01614219998515638}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[-2]C[0]/R[-1]C[0]">1.61%</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>-</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Trading value"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>Trading value</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":81.133272}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[-3]C[0]*R[-10]C[0]/1000000000">81.1</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>-</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"DTV"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>DTV</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":2107326}' data-sheets-numberformat='{"1":2,"2":"#,##0"}' data-sheets-formula='=googlefinance(R3C[0], "volumeavg")'>2,107,326</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>-</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Value"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>- Value</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":312.937911}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[-1]C[0]*R[-12]C[0]/1000000000">312.9</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>-</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - % of SO"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>- % of SO</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.062261834359386724}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=R[-2]C[0]/R[-5]C[0]">6.23%</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>-</td>
</tr>
<tr><td colspan="3" rowspan="1" data-sheets-value='{"1":2,"2":"Source: KRX &amp; Google Finance"}'>Source: KRX &amp; Google Finance</td></tr>
</tbody>
</table><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/168/405/original/smartkarma_download.png?1604023183" class="editor-image img-responsive" data-smartkarma-image-id="168405"></figure></section><p>But the bashing seems to be settling at a ₩150,000 level, a market cap of ₩5T.</p><p>PER-wise, it is still twice more expensive than direct local peers. But it came down to a level in line with Kakao, which appears to be a short-term support zone. </p><table class="table table-striped">
<colgroup>
<col width="300">
<col width="100">
<col width="100">
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"12M PER (₩B)"}'>12M forward PER (₩B)</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Ticker"}'>Ticker</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"12M PER (x)"}'>12M PER (x)</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Price"}'>Price</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"MC"}'>MC</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"SM Entertainment Co Ltd"}' data-sheets-formula="=R[-16]C[0]">SM Entertainment Co Ltd</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"041510"}' data-sheets-formula="=R[-16]C[8]">041510</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":25.13}' data-sheets-numberformat='[null,2,"#,##0.00",1]' data-sheets-formula="=R[-16]C[8]">25.13</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":29250}' data-sheets-numberformat='[null,4,"[$₩]#,##0",1]' data-sheets-formula="=R[-16]C[5]">₩29,250</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":684.7400292}' data-sheets-numberformat='[null,2,"#,##0.0"]' data-sheets-formula='=googlefinance(R[-16]C[5], "marketcap")/1000000000'>684.7</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"YG Entertainment Inc"}' data-sheets-formula="=R[-16]C[0]">YG Entertainment Inc</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"122870"}' data-sheets-formula="=R[-16]C[8]">122870</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":35.22}' data-sheets-numberformat='[null,2,"#,##0.00",1]' data-sheets-formula="=R[-16]C[8]">35.22</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":40050}' data-sheets-numberformat='[null,4,"[$₩]#,##0",1]' data-sheets-formula="=R[-16]C[5]">₩40,050</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":737.358948}' data-sheets-numberformat='[null,2,"#,##0.0"]' data-sheets-formula='=googlefinance(R[-16]C[5], "marketcap")/1000000000'>737.4</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"JYP Entertainment Corp"}' data-sheets-formula="=R[-16]C[0]">JYP Entertainment Corp</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"035900"}' data-sheets-formula="=R[-16]C[8]">035900</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":31.66}' data-sheets-numberformat='[null,2,"#,##0.00",1]' data-sheets-formula="=R[-16]C[8]">31.66</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":31400}' data-sheets-numberformat='[null,4,"[$₩]#,##0",1]' data-sheets-formula="=R[-16]C[5]">₩31,400</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":1116.3961234}' data-sheets-numberformat='[null,2,"#,##0.0"]' data-sheets-formula='=googlefinance(R[-16]C[5], "marketcap")/1000000000'>1,116.4</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Average"}'>- Average</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":30.669999999999998}' data-sheets-numberformat='[null,2,"#,##0.00",1]' data-sheets-formula="=average(R[-3]C[0]:R[-1]C[0])">30.67</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}'>-</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Naver Corp"}' data-sheets-formula="=R[7]C[0]">Naver Corp</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"035420"}' data-sheets-formula="=R[14]C[8]">035420</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":39.57}' data-sheets-numberformat='[null,2,"#,##0.00",1]' data-sheets-formula="=R[14]C[8]">39.57</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":293000}' data-sheets-numberformat='[null,2,"[$₩-412]#,##0",1]' data-sheets-formula="=R[14]C[5]">₩293,000</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":48211.3064325}' data-sheets-numberformat='[null,2,"#,##0.0"]' data-sheets-formula='=googlefinance(R[14]C[5], "marketcap")/1000000000'>48,211.3</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Kakao Corp"}' data-sheets-formula="=R[7]C[0]"><strong>Kakao Corp</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"035720"}' data-sheets-formula="=R[14]C[8]"><strong>035720</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":62.46}' data-sheets-numberformat='[null,2,"#,##0.00",1]' data-sheets-formula="=R[14]C[8]"><strong>62.46</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":336500}' data-sheets-numberformat='[null,2,"[$₩-412]#,##0",1]' data-sheets-formula="=R[14]C[5]"><strong>₩336,500</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":29695.39143}' data-sheets-numberformat='[null,2,"#,##0.0"]' data-sheets-formula='=googlefinance(R[14]C[5], "marketcap")/1000000000'><strong>29,695.4</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Average"}'>- Average</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":51.015}' data-sheets-numberformat='[null,2,"#,##0.00",1]' data-sheets-formula="=average(R[-2]C[0]:R[-1]C[0])">51.02</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}'>-</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Big Hit"}'><strong>Big Hit</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"352820"}' data-sheets-numberformat='[null,2,"[$₩-412]#,##0",1]' data-sheets-formula="=Terms!R[-22]C[0]"><strong>352820</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":60.923145600000005}' data-sheets-numberformat='[null,2,"#,##0.00",1]' data-sheets-formula="=R[0]C[1]/R13C8"><strong>60.92</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":148500}' data-sheets-numberformat='[null,2,"[$₩-412]#,##0",1]' data-sheets-formula="=Misc!R[33]C[-2]"><strong>₩148,500</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":5026.159512}' data-sheets-numberformat='[null,2,"#,##0.0"]' data-sheets-formula="=Misc!R[33]C[-2]"><strong>5,026.2</strong></td>
</tr>
<tr><td colspan="5" rowspan="1" data-sheets-value='{"1":2,"2":"Source: KRX &amp; FnGuide"}'>Source: KRX &amp; FnGuide</td></tr>
</tbody>
</table>

Today is the first lock-up expiry day (15D).









Lock-up
Qty.
% of SO
% of SO+RCPS
Resumption


15 days
205,463
0.61%
0.58%
2020. 10. 30

Source: KRX

Unsurprisingly, the shares are again taking a hit as the price loses 5% this morning.It is now 58% down from the peak reached on the market debut day.






Status (₩B)

Name
Big Hit Entertainment Co Ltd
-


Ticker
352820
-


Market cap
5,026.2
-


Price
₩148,500
-


- Previous
₩157,000
-5.41%


- Open
₩149,000
-0.34%


- High
₩151,500
-1.98%


- Low
₩147,000
1.02%


52W high
₩351,000
-57.69%


52W low
₩147,000
1.02%


Trading volume
546,352
-


- SO
33,846,192
-


- % of SO
1.61%
-


Trading value
81.1
-


DTV
2,107,326
-


- Value
312.9
-


- % of SO
6.23%
-

Source: KRX &amp; Google Finance

But the bashing seems to be settling at a ₩150,000 level, a market cap of ₩5T.PER-wise, it is still twice more expensive than direct local peers. But it came down to a level in line with Kakao, which appears to be a short-term support zone. 









12M forward PER (₩B)
Ticker
12M PER (x)
Price
MC


SM Entertainment Co Ltd
041510
25.13
₩29,250
684.7


YG Entertainment Inc
122870
35.22
₩40,050
737.4


JYP Entertainment Corp
035900
31.66
₩31,400
1,116.4


- Average
-
30.67
-
-


Naver Corp
035420
39.57
₩293,000
48,211.3


Kakao Corp
035720
62.46
₩336,500
29,695.4


- Average
-
51.02
-
-


Big Hit
352820
60.92
₩148,500
5,026.2

Source: KRX &amp; FnGuide



Big Hit: Fast Entry into KOSPI 200 & Lock-Up Expiries (Incl. RCPS)

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Big Hit: Fast Entry into KOSPI 200 & Lock-Up Expiries (Incl. RCPS)