S. Korean pop band BTS triggers $1.7-bn stock rout on shift to solos

Shares of Hybe Co., the agency that manages the South Korean pop phenomenon BTS, plunged by a record after the band said its members will focus on individual projects for a while.

Hybe sank as much as 28% on Wednesday in Seoul, touching its lowest level on record since its trading debut in October 2020 and wiping out as much as $1.7 billion in market value. The stock pared the loss to finish 25% lower, after the agency said the group will “remain active as a team.” Shares are down nearly 60% this year, significantly underperforming the broader equity benchmark.