111123 SM Entertainment to reach ₩1 trillion ($868.7 million) in market value

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    Jessica Jung (제시카)
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    111123 SM Entertainment to reach ₩1 trillion ($868.7 million) in market value

    Post by Jessica Jung (제시카) on 2011-11-24, 00:54

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    SM Entertainment is fast approaching the 1 trillion Korean Won ($868.7 million USD) mark in market value.

    The closing stock price on November 22nd came out to be 60,100 Won (~ $52.21) per share; the highest value for the agency yet. If the value of SM Entertainment is calculated from this price, the label would be worth 995.9 billion Won ($865.2 million).

    If the stock value rises by 250 Won ($0.22) to bring the price per share up to 60,350 Won ($52.43), SM will reach a value of 1 trillion Won.

    With the value of music related stocks skyrocketing these days, SM is expected to go beyond the 1 trillion Won mark.

    SM Entertainment has experienced a tremendous surge in market value this year. Their stock price increased by 220% in this year alone. In the beginning of August, they recorded a price around 20,000 Won (~ $17.37) per share. By the end of August, the price had jumped to around 30,000 (~ $26.06) Won per share. September and October recorded 40,000 (~ $34.75) and 50,000 Won (~ $43.44) per share, respectively, and on November 22nd, they reached a new record price of 60,100 Won per share.

    Source + Photo: Newsenr
    Credit: Allkpop

    [Thanks to those that sent this in!]


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