YG Entertainment Stocks Drop Following B.I’s Recent Drug Scandal
YG Entertainment‘s stock prices have been dropping following news of iKON‘s B.I‘s suspected drug crimes. YG Entertainment’s stock shares are currently trading at 31,950 KRW as of 4 pm (KST), a 4.05% (-1,350 KRW) drop compared to the previous close.
It is highly likely that the current downward trend is a result of the suspicions surrounding B.I’s alleged drug purchase attempts in 2016.
Earlier in the day, Dispatch revealed a series of chat logs between B.I and his acquaintance, Mr. A, in which B.I was heavily inquiring about LSD and even asking for a discount.
The first report was released at around 10:15 am (KST), which is when stock prices began to fall. Shares were trading at a peak of 33,800 KRW at 10:15 am before beginning to rapidly decline.
Meanwhile, B.I later admitted that he wanted to use drugs and announced his intentions to withdraw from iKON in an Instagram post.
It has also been reported that variety shows where he was a guest such as Law of the Jungle in Lost Jungle and Grand Buda-Guest will subsequently edit B.I out of the shows to the best of their abilities in light of the scandal.