The shares of Netmarble plunged on May 19, echoing the IPO investment nightmare for major game companies in the past. The stock price of Netmarble, the No. 1 player in Korea's mobile game industry, closed at 144,000 won, down 7.69 percent or 12,000 won from the previous day.
Netmarble shares fell for three straight days since it was listed on the KOSPI market on May 12. Its current stock price is about 8.28 percent lower than its IPO price of 157,000 won.
The plunge came after its rival NCsoft announced the timetable for the release of a brand-new mobile game "Lineage M." There are concerns that Lineage M would absorb the users of Netmarble's flagship mobile game Lineage 2 Revolution.
Netmarble investors remain in jitters amid concerns that Netmarble could follow the path taken by other large game companies in the past.
Doubleu Games, which joined the KOSDAQ market in 2015, saw its share price plunge by about 50 percent in three years after raising 277.7 billion won fund through IPO.