TradingKey – On July 10, Eastern Time, SK Hynix ( SKHY) ADRs listed on Nasdaq, raising $26.5 billion and setting a new record for a foreign company IPO in the US, with the ADRs closing up 12.76% on their first day.

On July 13, the underlying South Korean shares plummeted 15.37%, marking their largest single-day drop since listing and retracing 35% from their June peak. The ADRs plunged nearly 9% in a single day, giving back almost all of their gains. The following day, South Korean shares staged a V-shaped rebound. As of press time, the ADRs were up over 6% in pre-market trading, and the long-short battle over these two days has been brutally fierce.

[Source: Futu]