(Photo= Yonhap news)

[Alpha Biz= Reporter Kim Minyoung] Kakao Pay has hit a record low again since its listing.

As of 2:30 p.m. on the 13th, Kakao Pay is trading at 29,350 won, down 2.49% from the previous day's closing price.

As a result, Kakao Pay will break the new low price, which is lower than the previous lowest price of 29,850 won.

The fall in Kakao Pay's stock price is due to a series of massive selling sprees, led by foreign investors. More than 60,000 shares of net selling are also being released on CLSA, a Hong Kong-based securities firm.

This is due to the company's continued operating loss and the sluggish stock price of its parent company Kakao, which holds a 46% stake.

There are also concerns that Alipay, which holds a 32% stake, may sell an additional large volume.

However, Kakao Pay is expected to reduce its deficit in the second quarter of this year compared to the same period last year.

 

 

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