Shares of SK Hynix tumbled as much as 4.4% during early Monday trading in Seoul, pulling back after the world’s top AI memory chipmaker enjoyed a remarkable first appearance on the Nasdaq exchange last Friday.
The South Korean memory chip company brought in more than $26 billion through the sale of American Depositary Receipts, which were initially priced at $149 apiece. When trading began, the stock opened at $170 — roughly 14% above the offer price — and ultimately closed its debut session with a gain of 12.8%.
South Korea’s benchmark KOSPI index was also in negative territory, down 0.4% as of 0021 GMT on Monday.
