On August 6, SK hynix declined 3.35% overnight, trading at 145.6 USD/share, with turnover of $18.05 million. Multiple negative catalysts weighed on the stock simultaneously.
On the news front, subsidiary Solidigm is reportedly seeking pre-IPO financing with a target valuation of 50 trillion Korean won in preparation for a Nasdaq listing. However, SK hynix responded that it is considering multiple options and has not made any decision, with the uncertainty unsettling investors. Meanwhile, a Korean shareholder group filed criminal charges against SK hynix's CEO, alleging the bonus scheme violates fiduciary duties, and police have launched an investigation. Additionally, the company's union rejected management's proposal to pay more than half of annual bonuses in restricted company shares and warned it could take further action, amplifying short-term sentiment pressure.
Within the Semiconductors sector, Micron Technology fell 2.02%, while NVIDIA rose 0.38%, Intel rose 0.41%, Broadcom rose 0.33%, and Advanced Micro Devices fell 0.18%.
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