'상장 1년' 달바글로벌, 자사주·배당 카드…20만원선 회복할까

Dalba Global's 40 billion won shareholder return plan—combining 20 billion won in share buybacks and tax-exempt dividends—strategically addresses post-IPO lock-up release risks while signaling management confidence in the company's 202,500 won valuation level. The market is transitioning from initial venture capital profit-taking to institutional buyer accumulation (notably the National Pension Service expanding to over 10% stake), indicating that selling pressure is being absorbed by long-term investors. Recovery to the 200,000 won psychological level would confirm that near-term supply concerns have been resolved and investor focus can shift to earnings growth and sustained shareholder policies.