[경제 블로그]Five executives ‘eat-out’ to repurchase stocks
Criticism of “sell high and buy low”
Bad news about the release of the protective deposit for the new month
Osstem and Sillajen minority shareholders also grumble
Recently, while the domestic stock market has been struggling, the anger of ant (individual) investors who are boiling is growing as a series of incidents and accidents such as ‘controversies’ by management and large-scale embezzlement have occurred.
Investors’ response to Kakao Group, which was once called ‘national stock’, is cold. Kakao Pay, which caused controversy when the company’s management exercised stock options on December 10 last year, a month after listing, took measures every day to rectify the situation when the stock price plummeted. In particular, the five remaining executives at Kakao Pay decided to repurchase the stocks they sold. On the 21st, Kakao Pay surged for two days in a row and closed at 145,000 won on the 21st. However, it is still a 30% drop from 208,500 won on December 9, last year, before the controversy.
As a result, critical public opinion is predominant in internet investment cafes and stock discussion forums. Articles such as “Sell at the high and buy at the bottom, if this isn’t a stock price manipulation”, “Is the management taking a single hit?” and “Is the ants raising the drug?” were flooded. An investment industry official said on the 23rd, “The decline in trust in Kakao Pay is affecting the overall stock price of the Kakao Group. There is also the bad news that the 3 month protection deposit will be lifted on the 3rd of next month. It will be possible to sell 2,22,087 shares, which is 23.8% of the total institutional volume.
Minority shareholders who have invested in Osstem Implant and ShillaJen are also having sleepless days. On the 24th, the Korea Exchange will decide whether or not Osstem Implant, whose stock trading has been suspended due to the embezzlement case of 221.5 billion won, is subject to a substantive examination for listing eligibility. If it is decided to be subject to the substantive examination, it is highly likely that the investment funds of close to 20,000 minority shareholders will be tied up as the transaction suspension will be prolonged.
On the 18th, the company review committee of the exchange decided to delist ShillaJen. The KOSDAQ Market Committee deliberates and decides whether to delist or grant an improvement period by the 18th of next month. As of the end of 2020, there are 174,186 minority shareholders of ShillaJen, with a stake of 92.60%. Ant investor A, who owns Osstem and Shillajen stocks, said, “It is a small amount, but trust in the stock market disappears as companies that invested with confidence fall for a moment.
Reporter Song Su-yeon
