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SK hynix follows in the footsteps of SpaceX after its price break

MeNews
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ME News: News, July 28 (UTC+8) — SK hynix (SKHY.O) American Depositary Receipts (ADR) fell to a new low since its listing on Monday in the U.S. The stock had previously debuted on the U.S. market earlier this month with a fundraising size of $26.5 billion, but as investors continued to exit the overvalued semiconductor sector, the share price fell sharply. During the day, it once plunged 10% to $139.01, far below the $149 offer price, and ultimately closed at $143.02. By then, SK hynix, along with individual stocks such as SpaceX, became one of the first companies among this year’s largest U.S. IPOs to trade below the offering price. The semiconductor sector overall faced pressure; the widely watched semiconductor index extended its recent downtrend, closing at its lowest level since May 19. Meanwhile, the cost of providing default protection for corporate bonds issued by NVIDIA (NVDA.O) rose, as the value of the next round of AI infrastructure deals may exceed $750 billion. (Source: PANews)
SKHY-7.42%
SPCX-1.23%
NVDA-5.04%
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