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[Apha Biz=(Chicago) Reporter Paul Lee] Pearl Abyss has seen a sharp drop in stock prices since the release of its new game, Crimson Desert’ gameplay video.
According to the Korea Exchange on the 23rd, Pearl Abyss closed at 46,300 won, down 14.26% from the previous day.
Pearl Abyss released a new three-minute video of "Crimson Desert’" at the "Opening Night Live" (ONL), the opening eve event of the game show "Gamescom 2023" in Cologne Messe, Cologne, Germany, on the 22nd (local time).
Crimson Desert did not announce specific information in advance due to beta testing or demonstration events, so the release of new videos drew more attention on the day.
Game users and securities firms have been receiving favorable reviews for the new work. Kiwoom Securities raised its target price of Pearl Abyss from 80,000 won to 93,000 won, suggesting a 'buy' opinion.
Pearl Abyss recorded an operating loss of 14.1 billion won in the second quarter, falling short of market forecasts. It is analyzed that sluggish sales due to intensifying competition in mobile games and rising labor costs due to incentives led to operating losses. Despite its poor performance, the stock market raised its target price, paying attention to the release of its new Red Desert.
It is interpreted that expectations for the new film have already been reflected in stock prices and have plunged on the same day. Pearl Abyss shares rose about 14% from the beginning of the year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
