Shares of Shift Up, the company behind games such as Stellar Blade and Goddess of Victory: NIKKE, have become available on the Korean Exchange. As a result of the first day of trading, the share price showed an increase of only 18%, although at the start the increase was 49.17%.
Thanks to this start, the company became fourth among Korean gaming companies by capitalization. And the initial growth in the share price allowed it to temporarily overtake NCSOFT, which is now in third place after Krafton and Netmarble.
South Korean financial analysts were quite skeptical about the share price at the time of the IPO and doubt that the price will rise in the coming years. The reason lies in the fact that the company’s revenue is heavily dependent on one game – Goddess of Victory: NIKKE, which constantly generates more than 90% of the company’s total revenue. The release of the next new game will take place only in 2027 and it is unknown what sales Shift Up will have before that time. This fact will greatly influence the stock price.
Let us recall that the company’s new project became known at the beginning of 2024, when a list of vacancies appeared on the website. The first details and release date in 2027 were announced in preparation for the IPO in May 2024.