In early trading on the 23rd, HYBE shares plunged in the 13% range. After the BTS Gwanghwamun comeback concert wrapped up on the 21st and the expectations previously priced into the stock were unwound, selling pressure appeared to intensify.
As of 9:34 a.m. that day, HYBE was trading at 298,000 won on the Korea Composite Stock Price Index (KOSPI), down 46,000 won (13.37%) from the previous session.
On the 21st, BTS held a comeback concert in the Gwanghwamun area of Seoul. It was the first BTS comeback in about 3 years and 9 months.
The audience at the concert was estimated at about 40,000 by the government and about 100,000 by organizer HYBE.
Earlier, police projected that up to 260,000 people would attend on the day of the concert, and the Seoul city government expected more than 200,000 to gather to see BTS. But as the actual crowd size fell short of even half the forecast, controversy arose over excessive mobilization of public officials and waste of tax money.