Shares of Hybe Co., the agency that manages the South Korean pop band BTS, plunged by a record 27 percent after the band said they’ll focus on individual projects for a little while.
Hybe headed for its lowest close on record since its trading debut in October 2020. The stock is down nearly 60% so far this year.
Members of the Bangtan Boys group, commonly called BTS, made the announcement in a video posted on YouTube. The singers said the time apart would be healthy for the band and urged fans not to view the development as negative.