Dabolink’s Stock Price Plummets: Min Hee-jin Sets the Record Straight on Investment Rumors

Soon after Min Hee-jin, former CEO of Adore, denied some rumors that she was set to receive an investment, the stock price of a KOSDAQ-listed company hit its lowest price, attracting attention. The main character is Dabo Link. Since this company was mentioned behind the scenes as “Min Hee-jin-themed stock”, some believe that its stock price plummeted following former CEO Min’s remarks.

The stock price of Dabolink, a company listed on KOSDAQ, closed at 2,055 won per share as of the closing price of 5. On this day, the stock price of Dabolink started at around 3,000 won, but fell sharply after 2pm and ended the day down 29.86% from the previous day.

Some claim that Dabolink’s stock price was influenced by former CEO Min’s remarks. On this day, around 1:30 pm, former CEO Min announced a statement regarding his future. Former CEO Min said, “The story that we agreed to receive investment from someone or signed a contract with someone is spreading in the investment industry” and dismissed it as “an unfounded rumor.”

According to the capital market industry, Dabolink was one of the listed companies that former CEO Min was rumored to join. Looking at the stock price trend over the past three months, Dabolink traded at 1,465 won per share based on the closing price on August 12, but on the 4th, the stock price rose to 3,080 won, more than doubling in three months.

Meanwhile, it is understood that the majority of Dabolink’s sales come from the production and sale of wired and wireless routers (APs). As of last year, the home AP business accounted for 73.75% of Dabolink’s sales. In the same period, DaboLink’s total sales were KRW 75.4 billion and it posted an operating loss of KRW 900 million.