LG Electronics, which jumped more than 22% the previous day on robot optimism, is plunging more than 4% after just one day. It is seen as profit-taking after the sharp stock surge.
As of 9:35 a.m. that day on the Korea Exchange, LG Electronics was trading at 122,100 won, down 5,800 won (4.53%) from the previous session.
The previous day, LG Electronics shares soared 22.98% on expectations for new businesses such as a humanoid based on the artificial intelligence (AI) model Exaone.
Daishin Securities, citing that LG Electronics is expanding its physical AI and Robotics platform, raised its target price to 160,000 won from 140,000 won.
However, given the sharp rise the previous day, the market that day appeared to see profit-taking following the rapid stock gains.