SEOUL, KOREA - The stock price of Lihom-Cuchen, the major rival of Cuckoo Electronics that has made an IPO on the previous day, has declined for two consecutive trading days. At 9:25 am on August 7, Lihom-Cuchen shares were traded at 15,250 won, down 6.15 percent (1,000 won) from the closing price of 16,250 won on the 6th. The company saw its share price fall more than 6 percent on the previous day.

 

Earlier, Lihom-Cuchen had been on an upward trend as it was considered a stock to benefit from the Cuckoo Electronics IPO. On August 5, one day before the public listing of Cuckoo Electronics shares, Lihom-Cuchen shares jumped more than 8 percent.

 

Oh Doo-gyun, analyst with E-Trade Securities, said, "It seems a profit-taking move as the stock has risen so much for several days. It remains to be seen whether this is a temporary phenomenon."

 

Unlike Lihom-Cuchen, Cuckoo Electronics saw its share price rise 11 percent on the 7th as soon as the market opened, following the 15-percent daily upper limit rise on the previous day. The stock was closed on the day at 238,000 won, up 14.98 percent (31,000 won) from the previous day's closing price. The stock's market cap was 2,333.2 billion won, ranking 98th, chasing closely that of Hyundai Mipo Dockyard (2,380.0 billion won) and LS Holdings (2,357.0 billion won).