“Everything’s turned blue, yet...” Hanjin KAL Corporation preferred shares jump 200% in five days [Stock NOW]

[Financial News] Hanjin KAL Corporation preferred shares are hitting the daily upper limit despite a rout in South Korea’s stock market.
As of 3:13 p.m. on the 6th, Hanjin KAL Corporation preferred shares were trading at 80,600 won, up 18,600 won (30.00%) from the previous trading day. They have risen for five consecutive trading sessions since the 2nd, gaining 206.46% over the five days.
At the same time, Hanjin KAL Corporation shares were trading at 194,400 won, up 4,000 won (2.10%) from the previous session. They, too, have surged 56.90% over five trading sessions.
The possibility of a management-control battle involving Hanjin KAL Corporation has come into focus, with the stock continuing to show strength. After Hoban Group overtook the camp of Hanjin Group Chairman Walter Cho to become the largest shareholder, Cho moved to buy additional shares, and the two sides’ stake battle appears to be gathering pace.
The preferred shares have relatively few shares issued, and their price swings are believed to have widened as a large wave of buying came in.

[email protected] Seo Min-ji Reporter