Nasdaq-listed K Wave Media Ltd. approved a strategic transformation to reposition itself as an AI infrastructure company, diverting funds raised for its Bitcoin treasury strategy in the process—and seeing its stock price fall sharply over the course of the day Monday. Previously focused on the South Korean entertainment industry, including supporting popular K-pop groups, the company's board of directors approved the sale of its largest wholly owned subsidiary, Play Co., Ltd., back to the unit's previous ow ...