On the 6th in the morning, Mirae Asset Securities shares rose more than 9%. Brokerages said the company is expected to post a surprise result in the fourth quarter (Oct.–Dec.) last year thanks to a preemptive investment in SpaceX.
As of 9:55 a.m. on the 6th, Mirae Asset Securities was trading at 27,950 won on the Korea Exchange, up 2,450 won (9.61%) from the previous day. The share price jumped intraday to 28,600 won, marking the highest level of the year.
Kim Hyeon-su, a researcher at Sangsangin Investment & Securities, said, "Through the third quarter, SpaceX's corporate value of $350 billion–$400 billion was reflected on the books, but the key is the $800 billion (about 1.12 quadrillion won) 'valuation quantum jump' expected to materialize in the fourth quarter."
Kim said that with the corporate value more than doubling in a short period, the value of the SpaceX equity held by Mirae Asset is expected to surge vertically from about 600 billion–700 billion won at the end of the third quarter to 1.3 trillion–1.5 trillion won at the end of the fourth quarter.
He noted, "The resulting valuation gain of more than 700 billion won is likely to more than offset the seasonal expense burden typical of the fourth quarter and lead to an earnings surprise," and raised the target price to 32,000 won from 29,000 won.