Data Center Beneficiaries Plummet... 2 Trillion Won Vanished in a Day

nVent Electric plc (NYSE: NVT) fell 5.98% on June 9, closing at $154 (approximately ₩200,000) on the New York Stock Exchange. Its market capitalization declined to about $24.9 billion (roughly ₩30 trillion), erasing nearly $1.4 billion (almost ₩2 trillion) in value in a single day, with trading volume around 1.34 million shares.

On the same day, nVent announced the promotions of Nitin Jain to Chief Strategy Officer and Joe Stark to Chief Revenue Officer, marking the official launch of its next growth phase focused on electrification, digitalization and sustainability.

Earlier, Bernstein at Société Générale initiated coverage of nVent with an “Outperform” rating and a $218 price target. Analysts at UBS, KeyBanc and Evercore have also raised their targets, citing the company’s growth potential in data-center liquid cooling and power-infrastructure solutions.

Spun off from Pentair’s electrical division in 2018, nVent is a manufacturer of electrical connection and protection solutions. Its product lineup—including electrical enclosures, heat-tracing systems and grounding and cable-management solutions—positions the company to benefit from rising power-infrastructure investments across commercial construction, data centers, utilities and renewable energy.