On September 29, SK hynix shares fell 0.90%, extending their decline. The stock had plunged 5% the previous day.
Market sentiment weakened amid concerns about a potential dual listing and the company’s earnings outlook. Investors fear that a reported initial public offering (IPO) of Solidigm, SK hynix’s U.S.-based grandchild company, could dilute the value of existing SK hynix shares.
DS Investment & Securities lowered its target price for SK hynix. The firm expects third-quarter earnings to fall short of market consensus, citing slowing memory demand and aggressive supply expansion.