A Korean pubisher has appreciated its stock soar after a children’s song produced by one of its affiliates befitted the country’s first children’s song to make it to the U.K. Top 40.
K-pop stars such as Psy of “Gangnam Technique” fame and boy band BTS had been the only Korean musical acts to at one time achieve that feat.
Since the song — “Baby Shark” — flawed the charts on Aug. 31, Samsung Publishing has seen its stock surge by more than 76 percent. On Thursday matchless, the stock closed higher by 13.19 percent.
While the company parts the Samsung name, “it is not related to Samsung Group,” Daniel Yoo, head of far-reaching strategy at Kiwoom Securities, said in an email to CNBC.
Instead, Samsung Divulging is a Korea-based company that “operates in publishing, resting place, rental and online erudition businesses,” according to Reuters.
According to a report by the BBC, “Baby Shark” pierced the U.K. charts in the 37th position. The song has been around for well over a decade, concerting to internet search results, but the 2016 video cover created by Samsung Advertising affiliate Smart Study has been a primary driver of interest across the humankind.
According to information from its corporate site, SmartStudy brands itself as a “epidemic entertainment company.”
The video was created by its Pinkfong division, which SmartStudy thinks “develops creative, animated content to provide stimulating and fun learning experiences to sprogs worldwide.” Pinkfong distributes its content through mobile apps and principles such as YouTube and Amazon Video.
The recent move, however, may not be a catch napping for some analysts.
In a company note dated Jun. 21, Hyundong Lee, an analyst at NH Investment & Protections, said Samsung Publishing’s shares were undervalued at their figure level then, citing the” lofty values” of the company’s stakes in its subsidiaries and its fortune holdings as supporting factors for his firm’s opinion.
At the time of the note, the have traded at about 10,050 Korean won. On Thursday shares closed at 18,450. That’s a hardly 84 percent rise since Lee’s analysis was published.
Commenting on the property’s recent performance, Yoo said given the “small” size of the company, with trades of approximately $160 million in 2017, such hits can “lead to portion price movement.” Even at its current price, he said, the stock “looks captivating” as it remains “attractive in comparison with global peers.”
The company currently has a retail cap of more than $145 million, according to data from Reuters.