Krafton stock falls rapidly after BGMI is removed from Play Store and App Store in India

BGMI's delistment has massively impacted Krafton's stocks (Image via Sportskeeda)
BGMI's delistment has massively impacted Krafton's stocks (Image via Sportskeeda)

Due to Battlegrounds Mobile India's (BGMI) ban last evening, developer Krafton's stocks fell rapidly when the market went live earlier today. Krafton's stocks slumped over 9% at its lowest, but managed to climb in value and end the day at a loss of around 4.5%. The developer's current value stands at 233,500 won.

Since Krafton is known to be a profitable organization, the slump was a huge setback for the company.

In a shocking turn of events, the popular battle royale game, BGMI, was delisted from both the App store (for iOS users) and Google Play Store (for AOS users) last night.

Despite first impressions being that it was a technical glitch that had resulted in the mishap, the real reason was later revealed. It was found through an official statement by Google that the company acted according to the orders of the Indian government.


BGMI's ban has taken a toll on Krafton's stock value

Krafton Inc. is one of the most popular game development organizations in the world. The South Korean company has developed several popular games so far, with BGMI being one of its biggest selling games. Their stocks have taken the brunt of the title's potential ban in India.

Such a huge loss in the stock market shows the importance of the smooth functioning of Battlegrounds Mobile India. After the government's order directing both Google and Apple to pull the popular game from their respective stores, Krafton is yet to release an official statement.

Krafton and MEITY (Ministry of Electronics and Information Technology) are set to have a meeting today where discussions will be held regarding the entire scenario. Krafton will be hoping to get things back on track and re-list the title on both the Google Play Store and the App Store.


Popular streamers and pro players' reactions on BGMI's potential ban

The potential ban on the game has elicited many responses from esports players, streamers, casters, and managers of popular organizations. All have expressed their sadness and outrage over the matter.

Ghatak, the manager of GodLike Esports, took to Twitter and uploaded several tweets showing concern about how the game's ban could affect the esports ecosystem in India.

Mortal, a popular Battlegrounds Mobile India streamer and esports player, also took to his Twitter handle to express his disappointment. Tagging MEITY's Twitter handle, he made a plea to re-list the battle royale title on virtual stores once again.

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Professional player Jonathan recently held a livestream to talk about the scenario as well. He mentioned that the game is yet to be banned, and it might have been de-listed due to security reasons.

Edited by Abu Amjad Khan