BTS HYBE lost $1.7billion after the hiatus was announced

Korean music company HYBE represents the BTS K-pop band. The company lost $1.7 billion dollars in the first hour of trading after the band’s hiatus was announced.

It’s known news that the seven group members have announced hiatus through a translator and that means the team members will pursue solo work. This led to the down of HYBE shares in the South Korean market. 25,000 won has been lost by HYBE on Wednesday morning and the dropout still continues.

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HYBE has come down and given the clarity that the team, for now, will be concentrating on the individual performance, which is not a hiatus and a mistake of translation.

In nine years of BTS career, HYBE has 27percent of US album sales and streams. Jung Kook has a recent release dedicated to the group’s fan ‘Army’ called ‘My You’, written on ‘Variety’.