[데스크시각] ‘밸류업의 역설’ 코스닥 양극화 주의보

The article exposes a critical market divergence in KOSDAQ where regulatory tightening and delisting criteria (penny stocks under 1,000 won and companies below 20 billion market cap) force marginal firms into business transformation or M&A exits. This regulatory-induced polarization creates a vacuum that speculative capital may exploit, posing significant risks to retail investors lacking information advantage and analytical depth.