A whale tracked by Ember Monitor locked in a $770,000 profit on a South Korean SK Hynix trade, then quickly lost those gains after switching to the U.S. market.
According to the monitoring update, the address had opened a $30 million long position in South Korean SK Hynix on the 8th at an average price of $1,411. After U.S. SK Hynix trading opened last night, the whale closed that position at $1,465, booking a $770,000 gain.
The trader then moved straight into U.S. SK Hynix, opening a position at $174.6. The stock failed to extend higher, and the address exited two hours later at $169.7, wiping out the earlier profit.
The same whale has now started building a new Nvidia position worth $20 million. The move shows a rapid rotation from SK Hynix into Nvidia after a round-trip that erased the prior gain in a matter of hours.
A whale tracked by Ember Monitor gave back all profits from an SK Hynix trade within two hours after rotating from the South Korean market into U.S. stocks.
The address had opened a $30 million long position in South Korean SK Hynix on the 8th at an average price of $1,411. After U.S. SK Hynix trading opened last night, the whale closed the South Korean SK Hynix position at $1,465, realizing a profit of $770,000.
The trader then immediately opened a position in U.S. SK Hynix at $174.6. The stock did not continue moving higher, and the whale closed the trade two hours later at $169.7, erasing the earlier gains.
The address has now begun investing in Nvidia, with the new position valued at $20 million.
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