Doosan Robotics, which had drawn attention as a beneficiary of Nvidia CEO Jensen Huang's visit to Korea, fell sharply for a second consecutive day, returning much of its recent gains. The stock, which had surged in a short period on expectations of cooperation with Nvidia, cooled rapidly amid profit-taking and a correction in U.S. tech stocks.
According to the Korea Exchange (KRX) on Friday, Doosan Robotics closed the previous day at 140,300 won, down 17,600 won, or 11.15%, from the prior session. The drop followed a 5.28% decline the day before, marking a double-digit loss this time as well.
Doosan Robotics had drawn intense investor interest recently as Huang's visit to Korea and the possibility of cooperation on Doosan Group's physical artificial intelligence (AI) business came into focus. The stock had soared about 60% in five trading sessions, climbing from a closing price of 106,500 won on the 29th of last month to as high as 170,000 won during trading on the 2nd of this month.
But with mounting pressure from the rapid short-term surge, profit-taking concentrated and the upward momentum broke. Some in the market said expectations of cooperation with Nvidia had already been largely reflected in the share price.
A correction in AI-related stocks on the U.S. market overnight also dampened investor sentiment. Broadcom plunged more than 12% after issuing earnings guidance that fell short of market expectations, while Micron fell more than 7%. As major semiconductor stocks that had driven expectations of expanded AI investment showed weakness, selling spread to related domestic stocks as well.
Stocks that had been mentioned as candidates for a meeting with Huang also weakened across the board. LG closed down 5.39% at 122,900 won, and Naver ended the session down 4.49% at 255,500 won. Doosan fell 3.33% and NCSoft dropped 2.76%.
