Black Desert has settled in the Chinese market… Why is the share price of Pearl Abyss soaring?
The share price of game company Pearl Abyss is not very good. In the morning alone, the stock fell more than 20% from the previous day. Even considering the overall sluggishness of domestic tech stocks in the aftermath of the decline in large US tech stocks on April 26, the decline is large. Most domestic game stocks fell only 3-4%. The opinions of game and stock markets are divided over the cause of the plunge in Pearl Abyss stock price.
First of all, it is pointed out that the performance of Black Desert Mobile, released on April 26, is sluggish in China. Black Desert Mobile is currently ranked 31st in sales in the Chinese App Store. After entering the top 100 immediately after its release, it gradually increased its sales rankings, but as of April 27th, it was in their late twenties and early thirties, and it was hardly used. Analyzing this, some analysts said, ‘Sales are sluggish than expected’ and ‘I am concerned about the failure of the box office’. Daol Investment & Securities analyst Kim Ha-jeong said, “As of 6 am on the 27th, 22 hours after the release of Black Desert Mobile, which was released at 8 am on the 26th, it ranked 29th in the iOS sales ranking and recorded sluggish initial sales.”
However, there are many voices saying that it is difficult to see that Black Desert Mobile has failed. It is pointed out that the number of downloads is firmly maintained at the top, and the characteristics of Black Desert Mobile must be taken into consideration. It is different from mass-produced MMORPG games that induce charging at the same time as the game starts. In Black Desert Mobile, you can enjoy billing content in earnest only after you have enjoyed the game to a certain extent. In other words, it is not the type of game where sales increase rapidly from the beginning. Kang Seok-oh, an analyst at Shinhan Financial Investment, said, “Black Desert M is based on a PC game, so the world view and the scale of the game story are huge. As you follow this vast story, the amount of time you play automatically increases. Black Desert game users are basically There are many cases where people spend money on games only when they have a motive to become stronger after enjoying the game.”
Analysts also follow that the phenomenon of the stock price crash of game stocks is repeated this time when a new game is released. In the past, there have been frequent cases in the domestic stock market where stock prices soared due to anticipation of a new game just before the release of the game, but after the new game was released, the stock price plunged due to a sudden rush of sales. For example, NCsoft’s stock price fell sharply on the release date of Lineage W in November of last year. Since then, Lineage W has continued to run at the box office and succeeded in recovering its share price.
Individual investors argue that excessive ‘short selling’ is the problem. As of April 26, the transaction value of the Pearl Abyss short sale was 54 billion won. Among the KOSPI and KOSDAQ, the largest amount of short selling funds flowed. There are considerable complaints about whether the stock price has collapsed without exerting its power as the short selling attack has been rushing in.
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