SK Hynix Inc. shares plunged more than 10 per cent in Seoul on Monday, July 13. The decline followed the South Korean chip giant's blockbuster and highly anticipated trading debut on the Nasdaq.
The volatility was spurred by an AI memory selloff on Wall Street, which caused shares to fluctuate. Some investors attempted to buy into this weakness as the stock tumbled.
A retail frenzy surrounding the stock and a surge in leverage have made the shares susceptible to these wild swings.