SK Hynix stock falls record 15% after Nasdaq debut

Price Action Impact 4
โดย Bloomberg·Read original
Summary · why it matters

SK Hynix stock fell 15.4% in Seoul on Monday, its largest single-day decline on record, as investors sold out of positions following the chipmaker's blockbuster Nasdaq debut last week. A 20-minute market-wide trading halt was triggered after the broader Kospi index shed 9% on the same session, while Samsung Electronics shed close to 11% and overseas investors exited roughly 1.7 trillion won in Kospi-listed shares, the bulk of which came from SK Hynix positions. Before Monday's regular session opened in New York, the company's U.S.-listed ADRs were changing hands at $152.50, a decline of 9.2% from Friday's closing price of $168, putting the American receipts at a premium of approximately 37% over what the underlying shares fetched in Seoul. When SK Hynix began trading on the Nasdaq on July 10, its ADRs climbed 14% above the $149 offer price at the open and closed their debut session with a gain of 12.8%, raising $26.51 billion in the largest share sale by a non-U.S. company on record. Analysts cited several factors behind Monday's decline, including investors cashing in gains after a widely anticipated event, disappointment over HBM4 volumes, and a Korea Investment & Securities note putting the chipmaker's quarterly operating profit as much as 8% below expectations. By the end of Monday's session, SK Hynix's total market value had slipped to $875 billion, retreating from the $1 trillion mark the company had surpassed earlier this year.

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