Discuss (NAVER(035420)) fell to eleventh place within the rating of the full market capitalization of huge conglomerates listed on the home inventory market. Naver is Doosan (000150)It misplaced tenth place for the group, recording its lowest rating in additional than three years because it was categorised as a big conglomerate.
In keeping with the Korea Change on the twenty sixth, Naver’s market capitalization as of the day past was 27.25 trillion. It’s about 2.219 trillion gained lower than the full market capitalization of Doosan Group (7 listed firms) of 29.244 trillion. The Doosan Group Doosan Power (034020)The inventory worth has risen about 28% this 12 months amid expectations for the nuclear energy undertaking. Consequently, Doosan Group’s market capitalization elevated by greater than 2 trillion gained, inflicting a reversal, however the sluggish efficiency of Naver was the decisive motive for the ranking change.
Naver’s inventory worth has fallen greater than 27% this 12 months, inflicting its market capitalization to lower by about 10 trillion gained. At the start of the day, Naver’s inventory worth fell to 165,000 gained, the bottom worth prior to now 12 months.
Naver headquarters in Seongnam-si, Gyeonggi-do. /Information 1
The scenario was completely different in Could 2021, when Naver was declared a big conglomerate. On the time, Naver’s market capitalization reached 59.628 trillion gained. Samsung Group (KRW 686 trillion) → SK(034730)Group (KRW 195 trillion) → LG(003550)Group (KRW 155 trillion) → Hyundai Motors (005380)It was ranked fifth after the group (134 trillion gained).
In September of the identical 12 months, Naver’s revised inventory worth reached an all-time excessive (454,000 gained) based mostly on the closing worth, rating third in market capitalization within the home inventory market as a single inventory. At the moment, Naver’s market capitalization was 74.6 trillion gained, second place. SK Hynix (000660)The hole has narrowed to about 2 trillion gained.
Naver’s inventory worth has been declining ever since. The explanations are advanced. First, the Financial institution of Korea and the US Federal Reserve (Fed) started elevating their key rates of interest. It’s because progress shares turn into much less engaging in a excessive rate of interest setting. New enterprise efficiency was additionally not nice. Naver launched a particular recreation streaming platform ‘Chijijik’ and a brief format (brief video) channel ‘Klip’, however fell behind Instagram by way of month-to-month utility utilization time, falling to 4th place in Korea. As well as, Chinese language firms are difficult the Naver Commerce part.
The occasion referred to as ‘Line Yahoo’ additionally appeared. Japan’s Ministry of Inside Affairs and Communications issued administrative directions to Line Yahoo twice in March and April this 12 months relating to a private info leak incident that occurred final 12 months. Line Yahoo has begun ending its relationship with Naver. As well as, because the Ministry of the Inside and Communications has requested Line Yahoo to assessment its possession, Naver is negotiating with Softbank a few stake in A Holdings, a significant firm Line Yahoo.
Naver Webtoon’s itemizing on the US NASDAQ market on the twenty seventh (native time) can also be a damaging issue for Naver’s inventory worth. It’s because earnings are dispersed on account of the simultaneous itemizing of mom and little one firms. When Naver Line listed on the Japanese and US inventory markets in July 2016, Naver’s inventory worth confirmed a weak development for a few week. Kim A-ram, a researcher at Shinhan Funding & Securities, mentioned, “Fairness discount and double counting low cost as a result of Naver Webtoon’s preliminary public providing (IPO) are certain to have a damaging impression on Naver’s inventory worth.”
Graphics = Son Min-kyun
Nonetheless, particular person traders are shopping for shares as a result of they imagine that Naver’s inventory worth has fallen sufficient. Naver’s price-to-earnings ratio (PER / market capitalization ÷ internet revenue), which was greater than 30 instances, has decreased to 17 instances. People have earned a internet buy of greater than 2 trillion in Naver inventory this 12 months.
Efficiency isn’t unhealthy in any respect. Naver recorded 2.5261 trillion gained in gross sales and 439.3 billion gained in working revenue on a consolidated foundation within the first quarter of this 12 months. We reached our highest quarterly working revenue. In keeping with the monetary info firm FnGuide, safety firms anticipated Naver’s quarterly working revenue to interrupt information each quarter, together with KRW 447.1 billion within the second quarter of this 12 months, KRW 459.3 billion within the third quarter , and KRW 473.4 billion within the fourth quarter. .
The secret’s when overseas traders return. In 2021, when Naver’s inventory worth was hovering excessive, the share of overseas traders was round 57%. Nonetheless, from September of the identical 12 months till at present, foreigners have offered greater than 5 trillion gained in internet gross sales of Naver inventory, and their share share has fallen to 47%. Ahn Jae-min, a researcher at NH Funding & Securities, mentioned, “It’s troublesome for provide and demand to worsen,” and added, “If exterior variables such because the Line Yahoo incident enhance and provide and demand again, Naver inventory will. worth will present a fast restoration. “
Graphics = Son Min-kyun
2024-06-26 08:47:00
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