“Squid Game” stocks plunge after mixed reviews for the second season of the Netflix show

“Squid Game” stocks plunge after mixed reviews for the second season of the Netflix show

Mixed reviews for the sequel to Netflix’s hit series “Squid Game” sent shares of South Korean companies involved in the series plummeting on Friday.

Marketing firm Artist United, whose largest shareholder is “Squid Game” star Lee Jung-jae, plunged its daily limit on Korea’s KOSDAQ exchange by 30%. Wysiwyg Studios, another Artist United investor, plunged 25.3%.

Shares of Dexter Studios, a Korean production company and Netflix partner, fell 24%.

Shares of South Korean production companies plunged on Friday after the disappointing premiere of “Squid Game 2.” No Ju-han/Netflix

The Korean thriller was a surprise hit in 2021, topping Netflix’s list of most-watched titles across all continents and becoming the first foreign-language series ever nominated for Best Drama at the Emmy Awards.

The second season was released by the streaming giant on Thursday.

Critics on Rotten Tomatoes gave the second season an 86% approval rating, but fans gave it a 62% rating.

The first season received 95% approval from critics and 84% from viewers.

“Squid Game has broken records to become our most popular series of all time, proving that great stories can come from anywhere,” Netflix Chief Content Officer Bela Bajaria said during the U.S. premiere of season two this month. “The cultural impact has been enormous worldwide.”

The survival horror series follows a secret competition in which destitute contestants compete in a series of deadly children’s games to win a prize worth millions of dollars.

The second season of “Squid Game” was released on Thursday. No Ju-han/Netflix

“This season of Squid Game hints at grander ambitions but does little to pursue them,” New York Times chief critic James Poniewozik wrote in his review.

It’s unclear whether the second season will be a repeat of the first blockbuster storyline or an attempt to advance the plot elsewhere, he said.

The New York Times’ chief critic said “Squid Game 2” “did little to expand the plot over its seven hours.” No Ju-han/Netflix

“It continues the story but does little to expand it over the seven hours,” Poniewozik wrote.

According to reports, the third season of the series will be released in 2025.

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