Samsung Electronics stock price, up 4% on news of semiconductor production cut! Will it become 90,000 won now?
Samsung Electronics stock price, up 4% on news of semiconductor production cut! Will it become 90,000 won now? Samsung Electronics’ first quarter performance and stock price reaction Hello. Today, I will talk about Samsung Electronics’ first quarter performance and stock price reaction. Samsung Electronics announced on the 7th that its operating profit for the first quarter was 600 billion won, down 95.75% from the same period last year. This is mainly due to the decline in demand for consumer goods such as smartphones and TVs and the fall in semiconductor prices due to the impact of COVID-19. However, Samsung Electronics’ stock price closed at 65,000 won, up 4.33% on the day. Foreigners and institutions bought 881.1 billion won and 114.7 billion won worth of shares respectively. On the other hand, individual investors sold 984.5 billion won worth of shares. Why did Samsung Electronics’ stock price soar despite the poor performance? The reason is because Samsung Electronics annou...