Why SK Hynix shares tumbled after a blockbuster Nasdaq debut

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AI summary

Shares of South Korean chipmaker SK Hynix declined on Monday following its blockbuster Nasdaq debut. Analysts attributed the fall to profit-taking rather than any change in long-term outlook, noting that the listing proceeds will fund expansion of AI chip production. Investors continue to see SK Hynix as a key beneficiary of rising demand for high-bandwidth memory used in artificial intelligence applications.