Samsung stock price soars as rumors of chairman Lee Kun-hee’s death circulate
The public is well aware of the deteriorating health of Samsung Group Chairman Lee Kun-hee and apparently his worsening condition is making Samsung Group stock prices soar. Rumors started circulating in Korea recently that the media was preparing articles on Lee’s death and this led to a further uptick in the group’s stock prices even though Samsung officially denied the rumors.
It will be one full year next month since Lee underwent a surgery for an acute myocardial infarction and he has been out of the limelight since then. His disappearance did cause some drama at the company’s recent annual general meeting and the group has had to repeatedly shoot down rumors about his death. Samsung SDS stock price increased during this period by 5.27 percent and reached $245.87 and Samsung C&T saw a 4.26 percent increase to reach $58. There’s even a conspiracy theory which claims that these rumors are being spread with a specific agenda in mind, so that the powers that be can take a higher margin on Samsung related stock prices.
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In this situation might be the result of a power struggle at the top of the company combined with the success of S6, which makes the fight even harder(expensive) for competitors.
death has a great impact on the stock price VBX and its more when you are talking about companies chairman.
it may lead to lose in investors confidence on the performance of the company which is doing well because of that persons contribution.
so investors might sell their stock and this may lead to down fall in stock price.
But Price is going UP.
Maybe stock prices are soaring because of the more heavily-rumored S6 success?
Exactly. What does the death of someone have anything to do with it?