SK Hynix’s newly listed American depositary receipts (ADRs) could trade at a valuation premium in the near term, Periscope Analytics analyst Brian Freitas said in a report. According to Jin10, Freitas expected the ADRs’ valuation premium to be between 30% and 35% over the very short term, before narrowing as passive buying interest in the U.S.-listed securities remains limited. SK Hynix raised $26.5 billion in its U.S. offering and made a strong Nasdaq debut last Friday, with its ADRs closing up nearly 13%. In early trading in Seoul today, the stock fell 10%.