HYBE's stock is strong in early trading on the 6th following news that it has established a new label aimed at Latin America.
As of 9:36 a.m. on that day, HYBE was trading at 239,000 won, up 3,000 won (1.27%) from the previous transaction day. In early trading, HYBE's stock rose to 242,000 won, hitting a new highest price in a year.
The day before, HYBE Latin America announced the establishment of the "DOCEMIL Music" label and the signing of its first artist, Meme Del Real. Meme Del Real is a member and producer of the Mexican rock band "Cafe Tacvba." Cafe Tacvba has won multiple awards, including "Best Rock Song," "Best Alternative Song," and "Best Duo/Group" at the Latin Grammy Awards.
As expectations for performance growth increased following the news of HYBE's entry into Latin America, it is interpreted that buying interest surged. The previous day, HYBE closed up 1.29% from the last transaction day.
Gajonghyun, CEO of HYBE Latin America, said, "Meme Del Real's joining DOCEMIL Music proves that HYBE can support artists in Latin America and back their boundless creativity, and I look forward to the future we will create together with the artists."