HYBE Shares Fall on YG Plus Sale, SM Entertainment Stock Slips After Failed EXO Mediation

Only two music stocks posted gains as the Billboard Global Music Index fell 2.1% in the week ended Friday (Sept. 26). Boy band EXO attends the 6th Gaon Chart K-Pop Awards on February 22, 2017 in Seoul, South Korea. Han Myung-Gu/WireImage Trending on Billboard The share prices of two K-pop giants, HYBE and SM Entertainment, suffered steep losses in a week in which few music stocks mustered even small gains.  In the week ended Friday (Sept. 26), HYBE’s stock fell 7.5% to 268,500 KRW ($190.53) amid a broader monthly downturn of approximately 9%. The company’s founder and chairman, Bang Si-hyuk, is currently facing a securities litigation probe. Additionally, on Tuesday (Sept. 23), HYBE sold its stake in YG Entertainment’s YG Plus.  Related While HYBE maintains exposure to YG Plus through the 10.2% stake owned by HYBE subsidiary Weverse, the disposal of its 4.8 million shares worth a total of 38.22 billion KRW ($27 million) will help shore up the company’s finances. HYBE’s operating profit rebounded in the second quarter, but in 2024, the company reported that cash flow from operating activities was at its lowest since the COVID-19 pandemic began in 2020. HYBE held 412 billion KRW ($292 billion) in
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