SK Hynix 200fell below ten thousand won, why it is dropping and whether it is still a buy
13On the morning of the day, SK Hynix shares fell to 199ten thousand 8one hundred won, 200dropping below the ten-thousand-won mark. Expectations for a U.S. ADR listing had been in place, but 2analysts said quarterly results would fall short of market forecasts, and selling pressure intensified.
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SK Hynix lost the ten-thousand-won level. 200On the morning of the day, 13as of 11the share price stood at 199ten thousand 8,000won. It plunged 8.35percent from the previous trading day.
In a flash, 18ten thousand 2,000won had evaporated. Until two days earlier, sentiment had been good on the positive news of a U.S. Depositary Receipt listing. But within a day, the mood turned icy.
The selling was not just a Hynix problem. Semiconductors fell together.
- SK Square: 126,800won, 10.01% decline
- Samsung Electronics: 4.21% decline
- LG Innotek: 6.47% decline
- Samsung Electro-Mechanics: 12.56% decline (the largest drop in this group)
Why are they all dumping together? Investors are 2already spooked by the quarterly results.
In the market, 2analysis spread that quarterly results would fall short of the consensus estimated by experts. In other words, they would earn less than expected. As this rumor circulated, institutional investors appear to have dumped shares in advance before crossing the line.
Should I buy now? The answer to that question will be decided by the earnings release. Until then, volatility will continue, like a haunted house flying through the air. The key point behind this decline is that a short-term positive factor from the ADR listing was not enough to lift the heavy burden of earnings worries.
Sources: 연합인포맥스
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