Spicy Noodles Featured by Cardi B Spur 30% Surge in Korean Stock
- Samyang Foods soars by daily limit after profit beats estimate
- The stock has doubled this year after viral social media wave
Cardi B.
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A South Korean instant noodle maker’s stock jumped by their daily limit Friday after posting better-than-expected earnings with help from a product recently featured on social media by rapper Cardi B.
Shares of Samyang Foods Co. soared by 30% to a record high. With the recent attention surrounding its buldak noodles, the company’s stock has more than doubled this year, pushing its market value to nearly $2.5 billion, surpassing that of rival NongShim Co. for the first time since the 1980s.