>> Once known as the emperor stock for its high price, Samsung was renamed the peoples' stock by South Korean media on Friday. Trading activity surged after a 50 to 1 stock split, aimed to make it easier for retail investors to buy into the South Korean technology giant. Shares were trading at $48.50 on Friday from close to $2,500 before the split.
Despite the jump in trading volume, the stock price fell 1.5% on lingering concerns about slowing memory chip market conditions. Some retail investors on social media described the Samsung Electronic's trading scene as a madhouse while others debated whether to buy now or wait. The turnover for Samsung shares amounted to a $1 billion, accounting for 27% of the main KOSPE's total turnover.
That's compared to an average of 8% last month.