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[Alpha Biz=(Chicago) Reporter Paul Lee] According to the Korea Exchange on the 10th, the stock price of W Games closed at 41,200 won on the 7th. The stock price, which stood at 50,900 won in February this year, is on the verge of collapsing even the 40,000 won level after a cascading decline. It is far below the public offering price (65,000 won) at the time of listing in 2015.
Behind the fall in stock prices is that social casinos and the overall game market have slowed down due to the disappearance of the new coronavirus infection (COVID-19).
The new product is also scheduled to be released in the second half of this year, making it difficult to act as momentum right away. W Games is conducting a beta test of "Bingo Cashout," a "skill game" genre in which users bet on cash, and plans to launch the game globally in the second half of this year. The new social casino "Fantastic Slot" is also expected to be released in the third quarter, but it is said that development has not been completed yet.
If there is no treasury stock used for specific mergers and acquisitions (M&A) or strategic alliances within the next two years, more than 50% of the treasury stock will be incinerated. If the stock price fails to recover its initial public offering price of 65,000 won by the end of this year, it will also consider a free capital increase.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
