Gravity Co., Ltd.
Gravity Co., Ltd. (NASDAQ: GRVY) is a South Korean publisher and developer of online and mobile games. Ragnarok Online, GRVY’s primary product, is a popular online game available in 91 markets and countries, including Japan and Taiwan. As of Feb 11, 2022, the company has 6.95 million American Depository Shares (ADS) listed and outstanding, with each ADS representing one ordinary share.
Why Should Investors Exit?
GRVY's share price has declined 43.17% in the past six months and is currently leaning towards the lower band of the 52-week range of USD 57.02 to USD 178.79, considering the company's declining fundamentals, weak liquidity profile, bearish technical and associated risks. We recommend a "Sell" rating on the stock at the closing price of USD 61.78, down 0.37% as of February 11, 2022.
One-Year Technical Price Chart (as of February 11, 2022). Analysis by Kalkine Group
* The reference data in this report has been partly sourced from REFINITIV.
* All forecasted figures and industry information have been taken from REFINITIV.