How did SK Hynix's stock perform on its first trading day?
Shares priced at $149 opened at $170 on Nasdaq under the temporary ticker SKHYV, a 14% jump, then closed the session at $168.01, up about 13%. Demand was strong enough that orders reportedly covered more than seven times the shares on offer before the deal was even priced.
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SK Hynix Just Pulled Off the Biggest Foreign IPO in US HistorySK Hynix raised $26.5 billion in a Nasdaq debut that beat Alibaba's IPO record, riding the AI memory-chip boom to a 13% first-day pop.
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