Follow-Up Stock to JYP: SM Entertainment
This Tuesday, June 30th 2020, the Korean entertainment industry as a whole got boosted. SM and JYP Entertainment (which went up 10% from when I bought it 4 days ago) both went up by approximately 2,000 KRW.
I conclude from this that this is evidence that the companies are managing to come back after the devaluation due to the COVID-19 pandemic. Although SM Entertainment already went up by 10%, I think this is good evidence that stocks will return to at least normal cost.
For SM Entertainment, that is usually in the 34,000KRW and assuming I buy it now at around 24,000KRW, I still have an upwards chance of getting a boost of 40%. Moreover, the reasons I stated for JYP Entertainment and why that's a good buy still stands for this stock. But most importantly, although this is only known by K-pop fans or Korean people, SM Entertainment is the blue-chip in this industry. This is the Microsoft of Korean entertainment and is embedded deeply in Korean culture.
Hence, today, July 3rd, I have made the decision to buy SM Entertainment in the morning at 24,200KRW.
Photo used from: https://www.soompi.com/article/1350713wpp/sm-entertainment-plans-to-launch-own-cryptocurrency