Suspicions are growing over stock price manipulation as one retail investor traded NCsoft shares worth 500 billion won in just one day.
Financial authorities have also begun intensive monitoring, including the process of checking transaction details.
According to the financial investment industry on the 13th, NCsoft was designated as an investor on the 12th, the last trading day of this week.
This is because more than 2% of listed shares were traded in one particular account (single account) on the 11th, the previous day, and the stock price soared to the trading limit (30%).
According to the actual disclosure of the exchange, the purchase of NCsoft shares 703,325 shares and the sale of 210,993 shares took place in one account on the 11th. In other words, a total net purchase of 492,392 shares has been made. As large orders were placed at once, NCsoft's stock price, which used to be 605,000 won, soared to 786,000 won (29.92%), ending at the upper limit.
However, on the 12th, the next day, NCsoft began to plunge early in the market and plunged to 11.7% during the day.
Suspicions have been raised that individual investors who have made mass purchases may have manipulated market prices related to futures investment.
In order to resolve these suspicions, the exchange and financial authorities have begun investigating NCsoft.
According to The Korea Exchange, the Market Surveillance Commission has conducted in-depth analysis and intensive monitoring of NCsoft.
If the Market Supervisory Commission judges the purchase as an unfair trade or market manipulation act, it will be transferred to the Financial Supervisory Service and a full-fledged investigation will begin.
Reporter Lee Ji-sun stockmk2020@gmail.com
