Another Follow-Up to JYP and SM: CJ ENM
It seems that I'll be investing in another Korean entertainment company stock: CJ ENM.
To give background to this company, CJ ENM is one of the largest distributors of media in South Korea, producing countless music hits and award-winning movies. The company however was recently involved in a scandal regarding the Produce 101X series, dropping their stock prices down.
The settings for this stock was in low 100,000KRW, and its mostly beed at exactly 105,000KRW for the past few months since the stock drops in early 2020. However, following that stock push in the first few days of July, it currently sits at 113,000KRWish, making it a stock that has good potential. The pre-COVID-19 stock price was in the 130,000KRW-160,000KRW, making it a stock that has good potential even if it returns to the normal listing.
Moreover, with the current trends given by the Hallyu, or the Korean wave as they call it, I think CJ ENM is a good buy. Its film, Parasite, recently won big and Korean movies, following Korean music, seems to be on the horizon for success. I thus think that its a good time to buy its now. Korean movies will succeed especially more when COVID-19 ends with the return of theater-watching.
Hence, earlier today, I bought shares of the stock at 113,900KRW.
Please let me know if you have suggestions or comments!
Picture from: https://en.wikipedia.org/wiki/CJ_E%26M