TradingKey – SK hynix’s stock price weakened ahead of its US listing, primarily due to multiple pressures including market shifts and pricing pressure.

During Asian trading hours on July 7, memory giant SK hynix extended its losses. The stock opened lower and continued to slide, falling nearly 160,000 KRW during the day, a decline of 6.7%, to temporarily trade at 2,186,000 KRW. With SK hynix set to list in the US, why did its stock price fall instead of rise?

On June 30, SK hynix announced the launch of its US IPO process, and its stock price rose slightly that day, reaching a high of 274,900 KRW. Since then, SK hynix’s stock price has continued to weaken, falling to a low of 205,000 KRW on June 3, resulting in a maximum drawdown of 25%.

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