Samsung Electronics regained 70,000 won in early trading on the 4th. Although the stock price plunged to the 60,000 won range on the previous trading day, it seems to be bouncing back within a day.
As of 10:15 a.m. on that day, Samsung Electronics was trading at 71,000 won, up 1,200 won (1.74%) from the previous transaction.
Samsung Electronics announced that it signed a contract worth $16.5 billion (22.76 trillion won) with Tesla on the 28th of last month, causing the stock price to skyrocket. At that time, the closing price was 40,400 won, which marked the recovery of 70,000 won for the first time in about 11 months since September 3 last year. After rising to 71,400 won, the stock price plummeted by 3.5% within a day on the 1st.
The securities industry continues to provide positive outlooks for Samsung Electronics. Seo Seung-yeon, a researcher at DB Securities, noted, "Samsung Electronics' operating profit is projected to increase to 9.4 trillion won compared to the previous quarter," and added, "The target price is raised to 84,000 won."