SK Hynix shares fell as much as 8.2% in early trading in Seoul on Monday, after investors moved to lock in gains following the company’s Nasdaq debut. The stock had surged 12.8% on its first trading day in the U.S. on Friday.
Ryu Young-ho, a senior analyst at NH Investment & Securities, said the pullback came after the U.S. listing was completed and as sentiment weakened on a more cautious view of the company’s second-quarter results. He said investors had expected HBM4 chip shipments to increase from the second quarter, but that growth does not appear to have materialized on a large scale.
Ryu also said earnings expectations have been revised lower. Compared with rival Samsung Electronics, SK Hynix has greater exposure to the HBM market, which he said may leave it less able to benefit from the recent rise in DRAM chip prices.
SK Hynix shares fell as much as 8.2% in early trading in Seoul on Monday as investors took profit after the company’s strong Nasdaq debut.
The stock had jumped 12.8% on its first day of trading on Nasdaq last Friday.
Ryu Young-ho, a senior analyst at NH Investment & Securities, said investors moved to lock in gains after SK Hynix completed its U.S. listing. He added that market sentiment was also hit by a more cautious outlook for the company’s second-quarter earnings.
Ryu said investors had expected HBM4 chip shipments to grow from the second quarter, but that increase does not appear to have materialized on a broad scale.
He also said investors have cut earnings expectations. Compared with Samsung Electronics, SK Hynix has higher exposure to the HBM market, which means it may benefit less from the recent rise in DRAM chip prices.
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