SK Hynix ADR Surges 13% on Nasdaq Debut, Domestic Shares Drop 13% on July 13

SK Hynix-15.45%
SKHYV-0.98%
According to Korean Economic TV, SK Hynix saw its American Depositary Receipts (ADR) surge nearly 13% on its Nasdaq debut on July 10, but domestic shares tumbled over 13% the following day to 1.889 million won. The decline marks the first time the stock fell below 2 million won since June 8. Analysts attribute the divergence to profit-taking following the listing announcement and Q2 earnings concerns. The ADR is trading at a premium of 15.5% to the domestic share price, expanding to 18.3% when including after-hours gains.
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