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SK hynix ADR newly issued shares (SKHYV) started trading about an hour ago, and the buyer will automatically become SKHY next Monday.
It’s already surged 16% now.
Would you buy? For now, I won’t— I just hope it doesn’t mess up my sndk.
Also, it looks like this entire jump is driven by oversubscribed auction bidding.
Unlike a brand-new IPO, the ADR doesn’t have room for price discovery, and the company has already released its financial report, so everyone’s expectations for SK hynix’s performance are very clear.
Next week, it’s likely to move in tandem with SK hynix in South Korea.
Buyers should be prepared to hold for the long term, just like Micron.
Thanks, everyone.