CJ CGV(079160) is surging more than 11% early on the 30th. Buying appears to be gathering on expectations for blockbusters in the summer peak season and news that the Public Growth Fund has invested.
As of 9:41 a.m. that day, CJ CGV was trading at 5,300 won, up 530 won (11.11%) from the previous session.
News that CJ 4Dplex, a CJ CGV subsidiary, is receiving an investment from the Public Growth Fund appears to have positively affected CJ CGV's share price. Expectations for capital raising through CJ 4Dplex and for pushing new businesses seem to have acted as a driver lifting the stock.
The full-fledged competition among major blockbusters in the summer box office is also adding momentum to CJ CGV's share gains. Director Na Hong-jin's "Hope" is expected to surpass a cumulative 4 million moviegoers this weekend, while "Spider-Man: Brand New Day," starring Tom Holland and released the previous day, drew 680,000 viewers on its opening day, kicking off a box-office run.
On the 5th of next month, director Christopher Nolan's new film "Odyssey" is set to open.