Why SK Hynix shares tumbled after a blockbuster Nasdaq debut

SK Hynix made the largest-ever US listing by a foreign company, raising $26.5 billion through ADRs priced at $149, which closed up about 13% on Nasdaq debut. Despite the strong US debut, Seoul shares dropped as much as 8% on profit-taking, with concerns over HBM4 chip shipments adding to selling pressure. Analysts view the pullback as temporary, noting SK Hynix held the largest share of the global HBM market in Q1 and remains a key beneficiary of AI memory demand.