Samyang Foods rose to the 'blue-chip' position (stocks priced over 1 million won each) in the early market on the 12th, buoyed by the popularity of its spicy chicken ramen.
On the 12th, Samyang Foods' stock was traded at 993,000 won at 9:02 a.m. on the KOSPI market, the same as the previous trading day. The opening price indicated 1 million won and later rose to 1,001,000 won, setting a new all-time high.
Samyang Foods' stock was traded at a price exceeding 1 million won starting from the pre-market (Pre-Market, 8 to 8:50 a.m.) on that day.
Samyang Foods has seen its stock price soar as its spicy chicken ramen has been selling remarkably well in overseas markets. The company's year-to-date stock price increase is 34.4%, and the annual stock price increase is 201.8%.
Securities firms have set Samyang Foods' target price at over 1 million won relatively early. According to financial information company FnGuide, the average target price for Samyang Foods is 1,119,000 won. Kiwoom Securities, Daishin Securities, Hanwha Investment & Securities, and DS Investment & Securities have suggested a price of 1.2 million won.