Company Performance: Positive earnings reports, successful product launches, and strong financial health typically drive the stock price up, while negative results can lead to a decrease.

Industry Trends: The overall health and growth prospects of the entertainment industry, including factors like streaming service adoption and cinema attendance, impact investor sentiment towards Kakao.

Market Conditions: General economic conditions, investor confidence, and global market trends can affect all stocks, including Kakao. Bull markets often see price increases, while bear markets can lead to declines.

Regulatory Environment: Changes in government regulations related to data privacy, content distribution, or competition policy can significantly impact Kakao's business operations and stock price.

Competition: The competitive landscape within the South Korean entertainment and technology sectors, including the performance of rival companies, can influence Kakao's valuation.

Investor Sentiment: Public perception and investor confidence in Kakao's management, future growth potential, and long-term strategy play a crucial role in determining the stock price.