SM stocks have recovered, thanks to SNSD’s “Mr. Taxi”


Because of the recent disasters in Japan (a massive earthquake, subsequent nuclear meltdowns, and aftershocks), the Japanese market has not been looking good at all. In fact, because of these disasters, some were speculating that the “Hallyu Wave” would not successfully carry over to Japan market. Therefore, the stocks of SM and other entertainment companies were driven down–SM alone fell 20% (from 20000 won to 16000).

Yet with the announcement of SNSD’s Japanese single debuting on April 27th, ‘Mr. Taxi’, SM’s stock rallied. On April 5th, SM’s stock rose 6.35% (1150 won) and finally closed at 19250 won. As of April 8th, SM Entertainment closed at 19450 won. Buyers included Samsung Securities, Kiwoom Securities, Daewoo Securities, and NH Investment Securities.

Forbes Korea was right. SNSD is a very, very powerful brand.

Credit:fnnews.com
Translated by: fanwonder/Taengfan@fanwonder.com
Shared by michelle@smtownjjang

3 responses to “SM stocks have recovered, thanks to SNSD’s “Mr. Taxi”

  1. I agree that SNSD is not only a powerful brand but a great force & energy to us fans around the world!!! They always make my day!

  2. So what you mean,sm entertainment is using Girls Generation for there money back or to gain more from last time they lose from other sueing and law sueing

    • I disagree. What a horrible pessismistic view. All corporations whether ethical or unethical have lawsuits and make money.

      Think of it as SM now has more incentive to keep SNSD healthy and happy.

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