There’ve been several articles circulated by the media today about SM Entertainment (SM) and its stocks. Interestingly enough, the articles all referred to a ‘SM Town’ concert in Peru, supposedly scheduled to happen at the end of this year.
Goldman Sachs announced on October 13th that they’ve decided to hold off on purchasing SM stocks until further review. They stated, “We are being careful in considering whether or not SM Entertainment can bring in profits from within Japan. The stock value has increased 43% since August, and 213% since 1 year ago.”
With SM’s stock experiencing a tremendous surge in value over a short period of time, Goldman Sachs appears to be concerned about whether the stock value will plateau or not.
Goldman Sachs claimed that SNSD‘s new album, the New York ‘SM TOWN’ concert in Madison Square Garden, the purported ‘SM TOWN’ Peru at the end of this year, and the scheduled release ofBoA‘s movie next year have all been taken into account in determining the current SM Entertainment’s stock value.
The news came like an electric shock for many, as SM Entertainment has yet to officially announce an SM TOWN concert in Peru. It seems that perhaps SM Entertainment released that info to their stockholders and investors before making that info available to the general public.
Stay tuned to allkpop for more updates!