LG Innotek shares jumped in early trading on the 26th. Investor sentiment appeared to pile in as expectations grew for a push into the robotics industry.
As of 9:25 a.m. that day, LG Innotek was trading at 330,000 won on the main bourse, up 14.78% (42,500 won) from the previous session. It climbed to as high as 334,500 won early in the session, rewriting its 52-week high.
Buying appears to have concentrated on expectations that LG Innotek will enter the robotics industry.
Kyobo Securities said in a report that day it expects the company's move into robotics to broaden downstream industries and lead to price hikes. It also raised its target price to 370,000 won.
Choi Bo-young, a Kyobo Securities researcher, said, "LG Innotek's camera modules have begun to be installed in Hyundai Motor's robot subsidiary Boston Dynamics," and added, "With mass production of LiDAR cameras starting for a European automaker and technology expansion underway, these technologies are expected to extend applications to Boston Dynamics' quadruped robots."