Netflix's series "Squid Game 2" has been released, and the stock prices of related theme stocks plummeted in after-hours transactions.
According to the financial investment industry on the 27th, Artist United's stock closed at 16,710 won in after-hours transactions after the previous market close. It dropped 9.97% (1,850 won) from the previous closing price of 18,560 won, hitting the lower limit. The price cap in after-hours transactions is -10% compared to the same day's closing price. Artist United is a company where Lee Jung-jae, the lead actor in "Squid Game 2," is a major shareholder.
Artist Studio, which is set to merge with Artist United, also recorded the lower limit in after-hours transactions after the previous market close. It finished the transaction at 20,250 won, down 9.8% (2,200 won) from the closing price of 22,450 won.
Both Artist United and Artist Studio showed early gains in after-hours transactions but began to decline from 5 p.m. the day before the release of "Squid Game 2." Additionally, other stocks considered theme stocks for "Squid Game," such as Showbox, Dexter, and Studio Wysiwyg, also showed weakness in after-hours transactions following the market close.
Some foreign media assessed that "Squid Game 2" is inferior to season 1. The New York Times (NYT) noted, "The second season of 'Squid Game,' which achieved enormous success, shows a more stylized massacre, but the story has stalled." The Guardian stated, "As 'Squid Game' became the most profitable series in Netflix history, it has faced creative challenges."
However, the American film magazine Variety praised, "'Squid Game 2' is bloodier, more extensive, and extremely immersive." Despite being previewed to critics and others last month, reviews have been mixed.
"Squid Game 2" depicts the intense rivalry between Gi-hun (played by Lee Jung-jae), who returns vowing revenge, and the Frontman (played by Lee Byung-hun) as they participate in the game. It consists of a total of 7 episodes. The production cost for "Squid Game 2" is about 100 billion won, four times that of season 1. "Squid Game 2" was also nominated for Best Television Series – Drama at the 82nd Golden Globe Awards.