SK Hynix pulled off the largest U.S. listing ever by a foreign company. Then, within three trading days, it handed a chunk of that excitement right back.
The South Korean chipmaker completed its American Depositary Receipt debut on Nasdaq on July 10, 2026, raising $26.5 billion in what became a landmark moment for both the company and the global semiconductor industry. Shares jumped 14% on that first day. By July 13, the stock had fallen 15.37% in a single session.
What actually happened
The July 13 selloff was not a SK Hynix problem in isolation. The drop cascaded across South Korean markets, pulling the Kospi index down over 9% and triggering trading halts across the board.
SK Hynix had become exactly that symbol. Its high-bandwidth memory chips, known as HBM, sit inside the AI accelerators powering data centers from Silicon Valley to Singapore. Following the July 13 drop, shares fell to approximately 1,845,000 Korean won. The stock is now down over 25% from its all-time highs and more than 30% from its peak in June 2026, which preceded the ADR listing by weeks.
