SK hynix Inc.(NASDAQ:SKHY) stock tanked almost 7% during Wednesday's premarket session as investors digest profit-taking after the company’s strong U.S. listing debut, even with S&P 500 futures up 0.3%.
The pullback reads like a reset after a fast run rather than a broad risk-off tape.
The ADRs have been volatile around their Nasdaq debut and the market’s AI-memory narrative, after the company completed a $26.5 billion U.S. listing and drew strong institutional demand.
Commentary also flagged that the ADRs were priced at roughly a 3% premium to the Seoul-listed shares, which was viewed as within expectations.
SK hynix is a semiconductor memory manufacturer with around 60%–70% of its revenue from DRAM and 30%–35% from NAND.
