Wemade stock gains on growing popularity of Night Crows

[Courtesy of Wemade Co.]

South Korean game developer Wemade Co. saw its stock price surge by nearly 7 percent on Friday morning as its latest massive multiplayer role-playing game (MMORPG) “Night Crows” gains attention.

Shares of Wemade were trading at 59,100 won ($43.7) as of 10:30 a.m. on Friday, up 6.49 percent from the previous closing.

Mirae Asset Securities Co. noted that the global release of Night Crows has drawn significant attention from gamers. It raised the company’s stock price target to 90,000 won from 75,000 won with a buy rating.

NH Investment & Securities Co. also raised the target price to 85,000 won.

The stocks of Korean refiners, in the meantime, are also gaining ground as oil prices rise amid geopolitical concerns.

Shares of S-Oil Corp. were trading at 83,300 won on Friday, up 4.52 percent from the previous day, while those of GS Corp., the holding company of GS Caltex Corp. jumped 6.47 percent to 51,000 won and those of Kukdong Oil & Chemicals Co. gained 2.84 percent to 3,980 won.

The price of West Texas Intermediate (WTI) crude oil for May delivery closed at $86.59 per barrel on the New York Mercantile Exchange on Thursday, local time, up 1.36 percent from the previous day.

The price of Brent crude for June delivery also rose 1.45 percent to $90.65 on Thursday, reaching its highest level since October 2023.