While most music stocks have posted gains over the last two months, or at least have treaded water, K-pop stocks are floundering in the closing stretch of 2023. Four South Korean music companies — HYBE, SM Entertainment, YG Entertainment and JYP Entertainment — had an average loss of 13.3% this week and have fallen an average of 21.4% in the last eight weeks. SM Entertainment has performed particularly poorly, falling 29.4% in eight weeks. Those losses occurred despite a rally two weeks ago after South Korean regulators’ ban on short selling until 2024 sparked a surge in the country’s stock prices.
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