On July 28, SK hynix fell 4.1% in pre-market trading, trading at approximately $137.38/share, with turnover of $19.13 million. The stock has fallen further below its July 9 IPO price of $149 per share, less than a month after completing a record-breaking $26.5 billion listing.

The decline was driven by a massive global memory chip sell-off. South Korea's KOSPI index plunged 10.84%, marking its largest single-day drop since March, while SK hynix's Korean-listed shares collapsed over 14% and Samsung Electronics fell more than 13%. Japan's Kioxia also tumbled as much as 18%. The sell-off was triggered by Chinese DRAM giant CXMT's listing on the Shanghai Stock Exchange, which intensified market concerns over potential shifts in global memory supply dynamics and increased competitive pressure on incumbent players.

Leveraged exchange-traded products further amplified market volatility, with two-times leveraged SK hynix products declining over 27%. Despite SK hynix's recent $5,000 billion cooperation agreement with NVIDIA covering HBM4 supply and AI data centers, and market expectations of record Q2 earnings to be reported on July 29, investors chose to de-risk ahead of the report amid deteriorating sector sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)