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.

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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