Since December 22nd, YG Entertainment‘s shares have been heavily affected, causing losses of up to 64 million dollars, marking a 5.11% decline and maintaining a downward trend for more than 4 consecutive days, all this after the departure of the singer G-Dragon from the company.
After Galaxy Corporation shared information about its merger with G-Dragon, YG Entertainment’s stock began to see red numbers, causing an abysmal decline in the company’s market capitalization, which has undoubtedly caused panic among other investors.
Moreover, this would not be the first time that YG Entertainment’s shares are affected by G-Dragon’s decisions; this company was in crisis after losing more than 130 million dollars in market capitalization value after the idol announced that he would not renew his exclusivity contract.
Since G-Dragon cleared him and sign contract with Galaxy, YG Entertainment stocks been falling down non stop for 4 days now, losing -5% and its still going down. pic.twitter.com/2b7L0RIYHp
— KLIFE (@8KLIFE) December 22, 2023
It should be noted that G-Dragon made the decision not to renew with YG Entertainment because, when he was going through one of the most difficult moments of his career, the agency turned its back on him. On the contrary, Galaxy Corporation gave him all the help they had available so that the singer could overcome the situation.