SK Hynix rises 5% as brokerages launch coverage with bullish ratings
Recently listed U.S. shares of SK Hynix rose 5% after six brokerages started coverage of the South Korean chipmaker with bullish ratings, citing its dominance in the booming AI memory market and access to a broader global investor base.
The American Depositary Receipts of SK Hynix, whose primary listing is in Seoul, were last up at $150.08 on Tuesday. However, they are trading 16% below their July 10 listing price due to a recent pullback in semiconductor stocks.
