NewJeans Exit Costs HYBE $423 Million in Market Value
TL;DR Summary
HYBE's stock value plummeted by $423 million following the departure of K-Pop group NewJeans, who terminated their contract with ADOR. This decision came amid ongoing tensions between the group, HYBE, and former ADOR CEO Min Hee Jin, to whom NewJeans remains loyal. The group's exit has significantly impacted HYBE's market position, causing a 6.97% drop in share prices.
- HYBE Reportedly Loses Nearly Half A Billion Dollars After NewJeans’ Departure Koreaboo
- NewJeans Announces That They’re Leaving Label ADOR Vulture
- South Korea's largest K-pop agency loses $423 million in value as girl group NewJeans set to part ways CNBC
- Industry experts predicts tough choices as NewJeans' ultimatum nears The Korea Herald
- K-Pop Group NewJeans Says They Will Split From Agency Hybe Bloomberg
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