Naver and Daum are seeing mixed fortune in the Korean stock market.
Naver is down in the dumps with the growth of its mobile messenger Line stagnating, while Daum Kakao enjoyed a more than 26-percent growth in its stock price thanks to its aggressive move to launch a variety of new businesses.
On August 7, Naver’s share price closed at 501,000 won, down 2.91 percent from a day ago, the lowest in a year. Since September 2013, the per-share price of Naver has never been dipped below the level of 500,000 won. Key factors behind the recent decline in Naver’s stock price include investors’ disappointment over its second-quarter financial results.
Naver saw its sales rise 13.8 percent year on year to 780.8 billion won, but its operating profit fell 11.6 percent to 167.2 billion won, far lower than the market consensus of 213.5 billion won.
In contrast, the share price of Daum Kakao rose 26.39 percent over the past three months. Daum Kakao shares continued an upward trend, rising for five straight days, closing at 132,200 won on August 7.
