[Market Focus] Despite Global No. 1 Ranking, "Squid Game 3"-Related Stocks Weaken Amid Criticism
As the recently released Netflix drama "Squid Game" Season 3 receives mixed reviews, related stocks are showing weakness in the domestic stock market on June 30.
As of 9:50 a.m. on this day in the KOSDAQ market, shares of Artist Company are trading at 8,420 won per share, down 19.58% from the previous session. Its subsidiary Artist Studio is also down 21.27%, trading at 12,030 won.
Artist Company is considered a "Squid Game"-related stock because Lee Jungjae, the lead actor of "Squid Game," is a major shareholder.
At the same time, Wysiwyg Studio, which was responsible for the visual effects of "Squid Game" Season 3, and Showbox, which invested in the production company Siren Pictures, are also down by 6 to 7% each.
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"Squid Game" Season 3 was released on Netflix on June 27. It is analyzed that investors, judging that the catalyst for a stock price increase has disappeared, have started to sell. Although "Squid Game" Season 3 previously ranked No. 1 globally in the Netflix TV program category after its release, it is also receiving harsh criticism from viewers.
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