"I’m Not Alone"... Chimchakman Says "I Sold Samsung Electronics at 70,000 Won and Bought It Again at 210,000 Won"

[Financial News] YouTuber Chimchakman (Lee Mal-nyeon) revealed that he sold Samsung Electronics shares when they were in the 70,000 won range and bought them again at 210,000 won.
On the 27th of last month, Chimchakman said on his YouTube channel, "I sold Samsung Electronics at 70,000 won and re-entered at 210,000 won," adding, "Even if the share price falls, it all goes down together anyway. If I don’t buy, I’m alone, but if we all fall together, I’m not lonely."
Samsung Electronics, which had stayed in the 40,000–70,000 won range for a long time, recently surged on the back of a strong Korea Composite Stock Price Index (KOSPI). On the 27th of last month, it closed at 216,500 won. It appears that Chimchakman bought Samsung Electronics around this time.
However, Samsung Electronics closed at 195,100 won on the 3rd, down 9.88%, amid global economic jitters following the United States of America (US) attack on the Islamic Republic of Iran (Iran).
Chimchakman is known to have held Samsung Electronics for about three years during the period when the stock price moved little in the 40,000–70,000 won range.
In a broadcast last July, he said he was considering selling, remarking, "Now that the rescue team is actually here, I don’t feel like getting in the vehicle. Since I took on risk, I should earn more than I would from a bank deposit," a comment that resonated with many retail investors.
According to the Korea Exchange that day, the KOSPI closed at 5,791.91, down 7.24% from the previous session, due to the impact of the war between the US and Iran. The Korea Securities Dealers Automated Quotations (KOSDAQ) also finished at 1,137.7, down 4.62% from the previous day.
The KOSPI opened the day at 6,165.15, down 1.26% from the previous session. However, after lunchtime, selling by foreign and institutional investors overwhelmed individual buying, and the 6,100, 5,900, and then 5,800 levels were all broken in succession.
At around 12:00 p.m. that day, a sell-side sidecar was triggered due to a sharp drop in the KOSPI. A sidecar is a mechanism that temporarily suspends the effectiveness of program trading orders when futures prices surge or plunge, in order to mitigate market shocks. At the time it was triggered, the KOSPI 200 futures index was about 5% lower than the previous session’s closing price, at 890.05.
Large-cap stocks also could not escape weakness. Market-cap leader Samsung Electronics closed at 195,100 won, plunging 9.88% from the previous session and falling back from the 200,000 won level. SK Hynix likewise dropped 11.50% to finish the session at 939,000 won.
moon@fnnews.com Moon Young-jin Reporter