Stockmarket Gangnam Style

I have been looking for an excuse to justify uploading the famous Gangnam style video to the site. I have finally found one. According to Bloomberg the Korean rapper Park Jae Sang otherwise known as Psy, has a father who is chairman of a Korean listed firm DI corp, stock ticker 003160 (ticker numbers are so hard to remember). Psy's dad has a 10% stake in the company.

 

Even the stockmarket has caught the craze check out the stock chart below. The company DI Corp went sideways for 5 years until the famous Gangnam video received publicity. The video was uploaded July 15th with the stock starting to move Gangnam style late September. The stock is now up 5x since July. Apparently shares have risen in the hope that due to family ties the company can cut a deal with Psy.

 

Source: Factset

DI corp is in the business of semi-conductor testing equipment and now maybe music? However according to the company no discussions have been made on potential business with the chairmans son.

Too bad, I’ve always wanted to see what a Gangnam semi-conductor testing equipment design would look like!

 

http://www.decisiveassetmanagement.com/

Disclosure: Decisive has no position in DI corp

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