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WEBTOON Entertainment Inc.

Company NameWEBTOON Entertainment Inc.
Stock SymbolWBTN
Class PeriodJune 24, 2024 to September 05, 2024
Lead Plaintiff Motion DeadlineNovember 04, 2024

On June 27, 2024, Webtoon conducted its initial public offering (“IPO”), selling approximately 16.3 million shares at $21 per share.

On August 8, 2024, Webtoon released its second quarter 2024 financial results, revealing revenue of $321 million, significantly below the analyst estimate of $340.8 million. The Company also reported a quarterly net loss of $76.6 million, stating that the loss was “primarily driven by one-time IPO-related costs and stock-based compensation expenses.”

On this news, Webtoon’s stock price fell $7.88, or 38.1%, to close at $12.75 per share on August 8, 2024, thereby injuring investors.

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Shares Purchased

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Shares Sold

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