"Shark spotted in Busan? Then Baby Shark!" The Pinkfong Company surges in early trading [Stock NOW]

[Financial News] The Pinkfong Company is surging in early trading. While there is no specific issue known to be affecting the stock price, some observers suggest that buying interest may have flowed in after news of the shark sighting at Busan Port North Port Waterfront Park reminded investors of the company's flagship intellectual property (IP), Baby Shark.
As of 9:20 a.m. on the 21st, The Pinkfong Company was trading at 12,880 won, up 780 won, or 6.45%, from the previous trading day's close.
The stock opened at 12,270 won and soared to as high as 14,280 won early in the session. Compared with the previous close, its intraday gain reached 18.02%. It later gave up some of those gains.
According to the Busan Coast Guard and other sources, a 3–4-meter-long shark was spotted on the morning of the 18th in the waterway at Busan Port North Port Waterfront Park in Dong-gu, Busan. Based on consultations with the National Institute of Fisheries Science (NIFS), the shark was presumed to be a copper shark, a species considered to have low aggressiveness.
The shark continued to appear in the waterway at Busan Port North Port Waterfront Park. Crowds gathered at the site to see it, and related news spread online and through social networking services (SNS).
Market observers believe the shark sighting in Busan affected The Pinkfong Company's stock price by reminding investors of its flagship IP, Baby Shark. However, there is no direct connection between the actual shark sighting and The Pinkfong Company's business.
The Pinkfong Company is a global family entertainment company that owns IPs including Pinkfong, Baby Shark and Bebefinn. It is expanding its content business into performances and exhibitions, games and films, in addition to music and animation.
[email protected] Lee Jeong-hwa Reporter