NCsoft's "Blade & Soul 2," the No. 1 game company in Korea, is suffering from a crushing defeat in the box office.
It was belatedly confirmed that it sold about 171.6 billion won worth of shares of NCsoft held by global asset management company "Black Rock" on the 30th.
As a result, BlackRock's stake in NCsoft has been reduced to 6.05% → 4.86%. NCsoft has been showing reverse growth since the first quarter of last year, and expected its new game Blade & Soul 2 as a relief pitcher to overcome it.
However, the market is experiencing a lot of difficulties due to unfavorable criticism. Analysts say the sale of BlackRock's stake reflects this.
In particular, the Chinese authorities recently criticized the game as a "Spiritual opium,"directly hitting not only Chinese game companies but also NCsoft. In other words, a dark shadow is casting over NCsoft as a major negative factor from China has exploded.
"BlackRock seems to be looking at NCsoft's corporate situation negatively," said Cho Ho-jin, CEO of Takeon World. "We have to wait and see whether additional shares will be made depending on the success of ' Lineage W', which is scheduled to be released in November.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
