Individual investors in Big Hit Labels‘ prices are finding themselves with a big loss in their investment.

The IPO price for Big Hit Entertainment was 135,000 KRW. On the first day, the stocks traded for 270,000, but ended up trading at 258,000 KRW at the close of business day. On the second day, stocks fell even more to 205,000 KRW, which is a 22.29% drop. This is unsurprising, as investors who are sophisticated sell whatever stocks that are not locked in for them at the high price of the IPO. They sold almost 3.1 billion KRW worth of stocks to individual investors, who bought them at 4.04 billion KRW. However, in the process, the stocks further dropped and private investors saw a loss averaging of 24%.

However, because initial institutional investors are locked into their stock for a month, it is predicted to drop even further – as stocks always do once the locked in stocks are released, because it puts more stocks on the market. Institutional investors have 35.7% of the stocks currently, and after their period is over in a month, about 15% of the total stocks are expected to come into the market, further decreasing the prices.

While this is the standard process for IPO stocks, many new investors – such as individual ARMYs who jumped into the market without much knowledge – are suffering from the drop in price. There are even some posts asking if they can get ‘refunds’ on stocks.