In early trading on the 27th, Pearl Abyss is surging 9%. The new title "Crimson Desert" is reportedly selling well, which appears to be boosting investor sentiment.
As of 9:34 a.m. on the 27th, on the KOSDAQ market, Pearl Abyss is trading at 55,700 won, up 4,900 won (9.65%) from the previous session.
Earlier, on the 24th, through its official website, Pearl Abyss said the new title "Crimson Desert" sold 3 million copies in the first four days after launch. On this news, Pearl Abyss shares jumped 23% on the 25th, rose another 1% on the 26th, and are extending gains in the 6% range today.
Lee Hyo-jin, an analyst at Meritz Securities, said, "Crimson Desert generated 300 billion won (3 million copies) in revenue over the first four days, and at the current pace, 4 million copies this month looks likely," and noted, "The commercial success of 'Crimson Desert' is drawing global investors' attention to Korean game companies."
However, Pearl Abyss shares have not yet recovered to their pre-limit-down level. On the 19th, the day before the Crimson Desert launch, the game received a score of 78 on global review site Metacritic, triggering a wave of disappointment-driven selling that sent Pearl Abyss straight to a limit-down. The stock closed at 46,000 won, down 19,600 won (29.88%) from 65,600 won.