SK Hynix shares fell over 15.4% in Seoul on Monday, marking a historic low after the chipmaker's successful Nasdaq debut:
The decline in shares is attributed to profit-taking and uncertainty regarding the demand for artificial intelligence memory chips versus the stock's sharp gains:
“Everybody's really confused about what's going to happen to the memory demand and where the fair price is,” said Daniel Yoo, global strategist at Yuanta Securities:
He noted that the sell-off was also driven by the mechanics of the offering, which increased the supply of stock available to investors:
“This pullback is likely to prove temporary as structural AI demand continues to outpace supply,” Yoo added:
