April 19, 2024

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[THE INVESTOR] Samsung Electronics’ shares reached an all-time high on Dec. 8, as momentum continued to mount ahead of the firm’s planned establishment of a holding company. 

The Korean tech giant’s stocks opened 1.65 percent higher at a record high of 1,801,000 won (US$1,554) in early morning trading, setting a new record for the third consecutive day.

The shares closed at 1,790,000 won on Dec. 8.

Compared to the 1,130,000-won closing price of Feb. 12 -- the lowest this year -- prices have increased nearly 60 percent as of today.

Analysts said the tech giant’s plan to split itself into holding and business firms and to refurbish dividend policies for shareholders, which were announced last month, is driving the upward trend.

Some of the market analysts forecast the stock price would hit 2 million won in the coming weeks, citing an anticipated improvement in earnings in the last quarter, thanks mainly to the robust semiconductor business of the firm.

By Kim Young-won (wone0102@heraldcorp.com)