Memory-chip stocks Micron and SK Hynix fell Monday after Chinese rival CXMT rocketed in its IPO on the Shanghai Stock Exchange.
Memory-Chip Stocks Micron, SK Hynix Drop After China Rival's IPO
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Memory-chip stocks Micron Technology (MU) and SK Hynix (SKHY) fell Monday after Chinese rival ChangXin Memory Technologies, known as CXMT, rocketed in its initial public offering on the Shanghai Stock Exchange. CXMT shares soared 466% in an IPO on Monday, giving the company a market capitalization of $484 billion, the Wall Street Journal reported. CXMT makes dynamic random-access memory (DRAM)…
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Micron stock fell 8% as Chinese rival CXMT's IPO raised nearly $10B and surged 466%, rattling semiconductor investors despite…
China's CXMT hits a $500B market cap after a 500% IPO surge. Apple is testing its DRAM chips as the memory giant aims to rival…
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