Business Maverick: ‘Squid Game’ stock jumps after Netflix announces second season

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Business Maverick: ‘Squid Game’ stock jumps after Netflix announces second season
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Netflx is betting on blockbuster hits to thwart this year’s 70% slump in shares after announcing in April that it had lost 200,000 subscribers in the first quarter, the first time it has shed customers since 2011.

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Netflix’s “Squid Game” will return for a second season, with the online streaming company returning to its global hit to recover from an unexpected drop in subscribers.

“Join us once more for a whole new round,” Hwang Dong-hyuk, the drama’s director, writer and executive producer, said in a letter posted on Netflix’s website. Gi-hun returns he said, referring to the main character. And audiences will be introduced to Cheol-su, the “boyfriend” of the show’s large animatronic doll Young-hee.

Bucket Studio, which holds a stake in the agency representing Squid Game’s lead actor, jumped nearly 24% in Seoul on Monday amid a broader selloff in Asian stocks.

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