PomegraElice Stock Plunges 32% on KOSDAQ Debut as AI Fears Grow
Why did Elice stock fall 32% on its KOSDAQ debut?
Elice (0158S0) stock fell 32% to 61,500 won on Tuesday in its KOSDAQ debut after AI-debt fears, sparked by CoreWeave's slide, hit AI data-centre stocks.
Key numbers
| Day-one close | 61,500 won-32.04% vs IPO price |
|---|---|
| IPO price | 90,500 wonTop of range |
| Retail demand | 408x10.26T won in deposits |
| Intraday low | 56,500 wonAbout -38% vs IPO price |
| IPO raise | $151MPriced at top of range |
What happened
Elice (0158S0) stock fell 32% to 61,500 won on Tuesday in its KOSDAQ debut after AI-debt fears, sparked by CoreWeave's slide, hit AI data-centre stocks. The company sold shares at 90,500 won, the top of its range, after retail investors asked for about 408 times the shares on offer. At its worst the stock was down 38%, the weakest first day for a South Korean IPO raising $100 million or more since at least 2022. Investors are worried about how much AI data-centre firms borrow, and U.S. rival CoreWeave has lost more than half its value since May.
Why it matters
Elice's slide shows that even a heavily oversubscribed AI listing can fall hard when investors doubt that AI spending will pay off. Its value dropped from about 1 trillion won at the IPO price to roughly 700 billion won in one day. For everyday investors, it is a sign that excitement over AI data centres is cooling, which may make new AI listings harder to price.
Who this affects
- MarketbearishMedium impact
- Korean stock investors hit; KOSPI fell almost 4%.
- CompanybearishHigh impact
- Elice's new shareholders lost about a third of their money.
- CompetitorsbearishMedium impact
- AI cloud rivals like CoreWeave face added selling pressure.
- IndustrybearishMedium impact
- Funding AI data centres looks harder for newcomers.
Elice vs CoreWeave
| Elice0158S0:KOSDAQ | ~0.7T won | -32.0% | — | — |
|---|---|---|---|---|
| CoreWeaveCRWV | $33.7B | -0.4% | -53.3% | +115% |
As of 2026-10-20
How we got here
Elice starts KOSDAQ trading at a 90,500 won offer price and falls as much as 38%.
Closes at 61,500 won, down 32.04% (CoinDesk cites 60,500).
KOSPI falls almost 4%; CoreWeave slips another 3% in U.S. premarket trading.
What to watch
- Whether Elice holds above its 56,500 won first-day low in coming sessions.2026-10-21
- CoreWeave's moves, a bellwether for AI data-centre borrowing worries.2026-10-20
Educational content only. Not investment advice.
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