The stock price of fan communication corporation DearU soared during intraday trading on the 27th. The news that DearU's 'Bubble' service has launched in-app on China's largest music platform QQ Music seems to have stimulated investor sentiment.
DearU's shares were traded at 59,000 won on the KOSDAQ market at 10:53 a.m. that day. The stock price rose by 10.49% (5,600 won) compared to the previous day. During intraday trading, the price jumped to 59,900 won, marking its highest level since April 2022.
According to the financial investment industry, the Bubble beta version has started service on QQ Music. Bubble is a paid subscription mobile service that allows fans to communicate with their favorite artists in a one-on-one chat format.
Previously, securities firms have raised their target prices, reflecting the entry of the Bubble service, which accounts for most of DearU's revenue, into the Chinese market. According to financial information provider FnGuide, the average target price from seven securities firms that issued investment opinions on DearU since May is 59,860 won.