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.