SK hynix ADR Surges 7%... Highest Price Since Listing

[Financial News] SK hynix American Depositary Receipts (ADRs), which were listed on Nasdaq in the United States on July 10, recorded their highest price since listing.
On the 9th (local time), SK hynix ADRs closed at $198.63, up 7.05% from the previous day. The intraday high was $199.87. The closing price on this day was 33% higher than the offering price ($149).
The surge in SK hynix's ADR stock price was largely driven by expectations that the memory supply shortage would continue for the time being.
UBS analyst Timothy Arcuri predicted that "supply shortages for both DRAM and NAND flash will persist until 2027."
Dan Kim, Chief Strategy Officer (CSO) at research firm TechInsights, also assessed the current level of overheating in the memory market as "8 out of 10" and predicted that "it will remain at this level until at least the end of 2027."
There were also assessments in the market that memory inventory had dropped to less than a 10-day supply.
Bank of America (BoA) upgraded its investment rating for SK hynix ADRs to 'Buy' and set a target price of $250.
Eric Deaton, president of Wealth Alliance, likened the current semiconductor industry to "pickaxes and shovels during the Gold Rush," stating that it is difficult for investors to make a better choice than semiconductors in the current market.

[email protected] Lee Seok-woo, International Specialist Reporter