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The Economic Times
The Economic Times
Business

SK Hynix sinks after Nasdaq debut amid profit-taking, easing earnings optimism

SK Hynix Nasdaq Seoul

SK Hynix shares dropped as much as 8.2% in early Seoul trade on Monday as investors booked profit, after a high-profile U.S. listing saw the world's leading AI memory chipmaker surge 12.8% in its Nasdaq debut on Friday.

The South Korean ‌firm raised ⁠over $26 ⁠billion selling American Depositary Receipts priced $149 each. The ADRs opened 14% above the offer price at $170 before ending their first trading day with a 12.8% gain.

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