SK Hynix sinks after Nasdaq debut amid profit-taking, easing earnings optimism

SEOUL: SK Hynix shares dropped as much as 8.2% in early Seoul trade on Monday as investors booked profit, after a high-profile U.S. listing saw the world’s leading AI memory chipmaker surge 12.8% in ‌its Nasdaq debut ⁠on ⁠Friday.

The South Korean firm raised over $26 billion selling American Depositary Receipts priced $149 each. The ADRs opened 14% above the offer price at $170 before ending their first trading day with a 12.8% gain.