Perpetual futures on the South Korean chipmaker's American depositary receipts plunged 20% in one minute before quickly rebounding above $1,000.

SK Hynix ADRs closed below their IPO price for the first time as investors dumped AI-related semiconductor stock

Perpetual futures on the South Korean chipmaker's American depositary receipts plunged 20% in one minute before quickly rebounding above $1,000.

SK Hynix shares have seen a significant decline recently. Concerns about market overcrowding and leverage have impacted the stock. Recent reports on Chinese progress fueled…