‘Baby Shark’ Creator Pinkfong Sees 62% Wipeout as Stock Falls Below IPO Price

The excitement around Pinkfong, creator of the global hit “Baby Shark,” has sharply faded as the company’s shares dropped below their IPO price just days after going public.

Pinkfong Co.’s stock fell to 35,050 won on Friday, down 7.7% from its initial public offering price of 38,000 won. The decline marks a 62% wipeout from earlier highs this week, when the stock briefly surged following its market debut.

The reversal comes as global equity markets face a broader downturn, pulling back several newly listed stocks, including entertainment and tech names.

Pinkfong went public with ambitions to expand beyond the “Baby Shark” franchise, which has accumulated more than 16 billion YouTube views, and grow into a full-scale media studio. But analysts say investor doubts remain.

Some investors question whether the company can replicate its past success and build new characters capable of driving long-term revenue. They warn that any sustained recovery in the share price will depend on Pinkfong’s ability to diversify its portfolio and monetise its intellectual property more effectively.