[Featured Stock] Naver Hits New Low Amid Decline... Weakness in 2% Range
Recently, NAVER, which has been on a downward trend, recorded a 52-week low during trading hours.
As of 9:40 AM on the 30th, NAVER is trading at 171,700 KRW, down 3,600 KRW (2.05%) from the previous day. During trading, it fell to 171,600 KRW, setting a new 52-week low.
NAVER has continued its decline recently. Since the 17th, there has not been a single day with a positive close. After falling below the 200,000 KRW mark in March, the stock, which had been moving between 180,000 and 190,000 KRW, has dropped to the 170,000 KRW range.
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It is expected to be difficult for the stock price to rebound in the near term. So-hye Kim, a researcher at Hanwha Investment & Securities, said, "I believe the significantly fallen stock price mostly reflects concerns about the slowdown in commerce business growth and the monetization potential of artificial intelligence (AI)." She added, "While the possibility of additional negative factors in the short term is limited, there is a lack of momentum to show a meaningful stock price rebound." Hanwha Investment & Securities has lowered NAVER's target price from 280,000 KRW to 250,000 KRW due to a downward adjustment in valuation multiples for the commerce and content businesses.
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