YG Entertainment's stocks are soaring high after the successful comeback of BLACKPINK with their new song How You Like That?
According to a report by All Kpop, the stock prices for YG Entertainment rose by up to 9.31 percent, amounting to 37,000 KRW per share. It peaked at 41,000 KRW per share on June 29.
It seems that even economic experts are acknowledging that the rise in YG's stock price can be attributed to BLACKPINK's pre-release single, which smashed YouTube records for the biggest MV premiere, the most streams within 24 hours and the fastest MV to reach 100 million views. How You Like That? is also performing well in local streaming sites and has risen to the second spot in Spotify's Global Top 50. It also skyrocketed to the No. 1 spot in 60 countries on iTunes.
One of the notable times that YG Entertainment recovered from its slump was early this year after news broke the label's representative group BIGBANG will be making a comeback. It can be recalled that last March, the remaining members of BIGBANG - G-Dragon, Taeyang, T.O.P., and Daesung all chose to stay with YG Entertainment and renewed their contracts.
Stocks rose to 33,850 KRW per share after the company experienced its lowest point at 16,000 KRW per share last year at the height of various scandals.
In 2019, BIGBANG member Seungri and YG founder and CEO Yang Hyun Suk were involved in several controversies including the Burning Sun scandal, allegations of cover-ups for drug use, and even for illegal gambling.
This prompted Seungri, who is now serving in the military, to leave BIGBANG and retire from the entertainment industry. Yang Hyun Suk also decided to step down from his role as CEO to prevent even more damage to the company's image.
However, some fans are now wondering whether Yang Hyun Suk is completely out of the loop when it comes to YG Entertainment's affairs.
Based on previous reports, even with Yang Hyun Suk's resignation as CEO of the label, and the subsequent turnover of his role to Hwang Bo Kyung last year, he still owns 17.3 percent of YG Entertainment's stocks which meant that he still has a say over the direction of the company he founded.
After his involvement in scandals last year, fans have expressed their hope that Yang Hyun Suk will leave YG Entertainment operations alone.