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21/11/2025 04:30 AST
The frenzy for the company behind the viral children's hit "Baby Shark" has all but fizzled after shares slid below their IPO price just days after debuting.
Shares of South Korean entertainment firm Pinkfong Co. tumbled to as low as 35,050 won on Friday, a 7.7% decline from its initial public offering price of 38,000 won.
The stock initially surged after its debut on Tuesday, but saw its fortunes reverse as a global downturn engulfed equity markets
Valuation questioned
Riding on the success of "Baby Shark," which has been viewed more than 16 billion times, the company has gone public to grow its reach beyond toddlers' screens and position itself as a full-fledged media studio capable of producing big hits.
Some investors, though, have questioned the company's valuation and ability to replicate prior success, saying further gains in the stock depend on its ability to create more characters and monetise them effectively.
Bloomberg
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21/11/2025
Saudi Arabia's Tadawul All Share Index advanced on Thursday, as it gained 11.96 points, or 0.11 percent, to close at 11,010.63.
The total trading turnover of the benchmark index was SR3.17
Arab News
21/11/2025
Nasdaq Dubai on Thursday welcomed the listing of $500 million Trust Certificates (Sukuk) issued by ICDPS Sukuk Limited, guaranteed by The Islamic Corporation for the Development of the Private Sector
Khaleej Times
21/11/2025
The Saudi Stock Exchange is preparing to introduce a new generation of investment products, with a particular focus on debt instruments and derivatives, in line with the rapid development the market
Arab News
20/11/2025
Stocks jumped after a robust forecast from Nvidia Corp. eased worries about a potential bubble in the artificial intelligence industry that had recently roiled markets globally.
Nvidia jumpe
Bloomberg
20/11/2025
Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, arrived in Washington on Tuesday for talks with President Donald Trump and a Saudi-US investment summit, reinforcing the strategic w
Asharq Al Awsat
Financial Information Co.
Saudi Arabia