On the morning of the 8th, CJ ENM's stock price is down more than 4%. The disappointment in the failure to win at the Venice International Film Festival for director Park Chan-wook's film "No Other Choice" is interpreted as the release of sell-off.
As of 9:41 a.m. on the 8th, CJ ENM is trading at 70,400 won, down 3,200 won (4.35%) compared to the previous trading day on the KOSDAQ market. It recorded a drop of more than 6% immediately after the opening, hitting 69,100 won.
Earlier, Park's new film "No Other Choice" received critical acclaim and advanced to the competition sector of the Venice Film Festival, raising expectations for an award; however, ultimately it failed to win, resulting in a sell-off.
In the early morning of the 7th, at the closing ceremony of the 82nd Venice International Film Festival held on the Lido Island in Italy, the top award, the Golden Lion, went to American director Jim Jarmusch's "Father Mother Sister Brother." "No Other Choice" was not recognized in other major sectors, including best director, jury prize, screenplay, and acting awards.