Monami, a company previously facing delisting risks, has seen a significant rise in its stock price thanks to what investors are calling "patriot buying."
As of 10:14 a.m. on July 13, Monami's shares were trading at 2,400 won, up 11.89% (255 won) from the previous trading day, according to the Korea Exchange.
On July 10, Monami's stock price surged by more than 20% during trading hours. The increase follows the implementation of stricter delisting criteria for the KOSPI index, which began on July 1, prompting individual investors to buy shares of companies at risk of delisting.
Monami's stock price jumped from 1,369 won on July 8 to a 24.69% increase on July 9, followed by a further rise of over 23% on July 10. Although there were no specific positive developments in the company's management, the so-called "patriot buying" appears to be a key factor behind the stock's rise.
This trend coincides with the recent overhaul of the KOSPI delisting system. Under the revised rules, if a KOSPI-listed company's market capitalization falls below 30 billion won for 30 consecutive trading days, it will be designated as a management issue. If the company fails to recover its market cap during the improvement period, it will face delisting procedures.
Previously, Monami's market capitalization dropped to 24.8 billion won on July 7 and 25.9 billion won on July 8. However, with the influx of individual investors, the market cap rebounded to 32.3 billion won by the close on July 9. Following further increases in stock price, the market cap reached approximately 45 billion won during trading on July 13.
Online stock communities have been buzzing with comments like, "We must protect our national stationery company," further fueling the buying momentum.
* This article has been translated by AI.
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