Rosé rising: YG Plus stock skyrockets after “APT.” tops global charts

 

A promotional image for Rose's ″APT.″ [THE BLACK LABEL]

Shares of YG Plus, which handles Korean music distribution for YG Entertainment and HYBE, soared by double digits for four days straight following the release of Blackpink member Rosé's latest single, “APT.”
 
The single, a collaboration with American artist Bruno Mars, topped Korean charts upon its Oct. 18 release and held the top spot on Spotify's Global Top 50 rankings as of Thursday afternoon, making Rosé the first female Korean soloist to achieve the feat.
 
YG Plus closed at 5,750 won ($4.17) Thursday, up 755 won or 15.12 percent from the previous session. The stock soared 29.85 percent on Monday and 29.89 percent on Tuesday — hitting the Korean stock market's regulatory cap on daily price movement — and 10.51 percent on Wednesday.
 
YG Entertainment's share price broke 40,000 won, for the first time since July, on Monday morning, and peaked around 43,000 won on Thursday morning.
 
The parent conglomerate closed at 41,650 won on Thursday, down 0.12 percent from Wednesday's close. 
 
Rosé is signed to The Black Label for her solo activities; Atlantic Records is her overseas label. YG Entertainment manages Blackpink’s group activities.
 
“APT.,” released Oct. 18, is a prerelease track for Rosé’s upcoming first full-length solo album “rosie,” which is set to drop Dec. 6.
 
 
 

BY CHO YONG-JUN [cho.yongjun1@joongang.co.kr]