[NA] Woeful Month On The TSE
Nexon’s stocks haven’t exactly had a successful month so far on the Tokyo Stock Exchange. After peaking at its highest price since Nexon’s initial public offering last December on late April, Nexon’s average stock price has fallen over 16% to 1,306 JPY per share, almost as low as the 1,300 JPY per share that they went public with. This comes after a bitter sweet Q1 2012 earnings report and as Nexon is currently under fire for hostile business practises in an attemped acquisition of Gamania and in their business with Korean cyber cafes (PC Bang). Unless stock prices make some major leaps within the next week this will be the first month since February where Nexon’s stock have declined for the month. These declines in stock prices have taken Nexon’s corporate worth to US$7.1 billion, down from US$7.9 billion on May 5. That shows how critical stock prices are to a company’s overall worth.
Let’s go Nexon!