BTS hiatus crushes South Korean-listed stock

Shares of record label and talent group Hybe ended 25% lower in Seoul on Wednesday after the musical group BTS said they would take a hiatus to allow individual members to pursue solo careers. Albums and concert sales of BTS were expected to account for 47% of fiscal 2022 revenue, according to JPMorgan analyst JJ Park. Park also noted the military service that will soon commence for band members Jin and Suga. “Although the share price has fallen steeply, and the valuation looks undemanding vs. peers, we recommend investors remain on the sideline until there is better visibility,” he said.

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