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K-pop record label sees valuation drop by $420 million on NewJeans exit

By MarketWatch   |   1 year ago
K-pop record label sees valuation drop by $420 million on NewJeans exit

K-pop producer Hybe faced a market cap drop of over $420 million as girl group NewJeans seeks to split from its subsidiary Ador due to alleged mistreatment. Shares fell by 7% after members announced plans to leave and pursue independent careers.

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