[Alpha Biz= Reporter Kim Minyoung] NH Investment & Securities analyzed Wemade on the 16th that the current stock price is excessively undervalued, considering NightCrow's overseas performance.
"The overseas version of NightCrow, a month after its launch, is cruising smoothly," said NH Investment & Securities. "The number of simultaneous users, which started with 150,000 on the first day of its launch, has increased to 404,000 as of 20,000 on April 14."
NH Investment & Securities said, "We maintain NightCrow's sales of 50 billion won in March and an average daily sales of 1 billion won in the second quarter," and added, "NightCrow is a global popular game that has appeared in domestic game companies for the first time in a long time."
"There are not many MMORPGs that have created 400,000 simultaneous users worldwide," said NH Investment & Securities. "There is a possibility that the developer's mad engine may be merged as early as this year, so next year's operating profit could increase by more than 70 billion won from the current estimate."
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
