---
title: "Ahead-of-the-game analysis: The ironclad logic behind SK hynix's crash"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42595810.md"
description: "I've already liquidated my position in Hynix after hours. At first, I was misled and thought Hynix was issuing new shares. After waking up and thinking about it, it's completely different. Hynix's price is itself pegged to the South Korean Hynix, and it already has a 3-point premium. Plus, it rose over ten points yesterday, making the premium as high as 15 points. That is to say, the South Korean stock market must open 15 points higher on Monday to maintain the premium on the US stock, which is obviously impossible. The weakness of Micron and SanDisk has already proven this point; the memory cycle is over. Many people say the market cap of the US-listed Hynix is small, so it can have a premium. This is completely applying A-share thinking to the US stock market..."
datetime: "2026-07-11T10:01:15.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42595810.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42595810.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42595810.md)
author: "[股神小顾](https://longbridge.com/en/profiles/13638348.md)"
---

# Ahead-of-the-game analysis: The ironclad logic behind SK hynix's crash

I have already liquidated my position in SK Hynix after hours. At first, I was misled and thought SK Hynix was issuing new shares.

After waking up and thinking it over, it's completely different. The price of SK Hynix itself is benchmarked against its Korean counterpart, and there's already a 3% premium. Plus, with its gain of over ten percentage points yesterday, the premium has soared to 15%. That means, on Monday, the Korean stock must gap up 15% to maintain the premium in the US market, which is clearly impossible. The weakness of Micron and SanDisk has already proven this point—the memory cycle is over.

  
Many people say the US-listed SK Hynix has a small float, so it can have a premium. This is completely applying A-share market thinking to US stocks. In the A-share market, because retail investors can't buy Nasdaq or semiconductors directly, the premium for semiconductor ETFs can be hyped up to over ten percentage points.

But it's different for Americans. Can't they buy the genuine Korean SK Hynix? Can't they even buy a 2x leveraged long ETF on SK Hynix? Aren't these easy things to do? So why would they pay a premium of over ten percentage points for this SK Hynix?

  
Therefore, this SK Hynix farce is bound to end faster than the Starship farce. The Starship hype can still last for two or three days, after all, it's a new stock issuance, allowing for valuation hype. This SK Hynix is just an old stock. If you are really bullish on SK Hynix, you should buy the 2x leveraged long SK Hynix ETF, or buy the Korean SK Hynix, not the one with a premium of over ten percentage points. Isn't that sticking your head under someone else's knife, letting them slaughter you?

### Related Stocks

- [SKHY.US](https://longbridge.com/en/quote/SKHY.US.md)
- [MU.US](https://longbridge.com/en/quote/MU.US.md)
- [SKHYV.US](https://longbridge.com/en/quote/SKHYV.US.md)

## Comments (42)

- **新用户_Jv2eay · 2026-07-15T07:52:31.000Z · 👍 1**: Last night, SK hynix surged 27 points in US stocks. Is this the charm of a contrarian indicator? It's too strong.
- **新用户zwt · 2026-07-13T14:20:11.000Z**: If you had told me you liquidated your position earlier, I would have bottom-fished today.
- **还差3800出圣者遗物 · 2026-07-13T01:43:00.000Z**: Thanks, Gu Shen
- **新星登场 · 2026-07-12T15:41:58.000Z**: The bulls are back, hurry back
- **明天会更好吗？ · 2026-07-12T09:02:16.000Z**: Thanks to the God of Stocks,Our $Tesla(TSLA.US) finally broke even today, thanks to $NVIDIA(NVDA.US)!Bros, what price did you get in at for $Tesla(TSLA.US)?The money I lost on $Tesla(TSLA.US), I've finally made it back here on $NVIDIA(NVDA.US).
- **goodgodddayjasonmil · 2026-07-12T07:45:08.000Z**: Most institutions cannot compliantly allocate Korean stocks, SKHY is an exposure.
- **第100次爆仓，从500块 · 2026-07-12T07:34:22.000Z**: It's normal for US stocks to trade at a premium; it's just that different shares have different fates.
- **不要频繁浇花 · 2026-07-12T06:13:32.000Z**: For now, we just need to keep an eye on Brother Feng and Mom Bao.
  - **Vera Rubin** (2026-07-13T00:50:36.000Z): Doesn't Brother Feng buy US stocks?
  - **不要频繁浇花** (2026-07-13T00:59:13.000Z): Brother Feng buying domestic tech is also a bellwether.
  - **Vera Rubin** (2026-07-13T00:59:51.000Z): He has been holding without moving
- **脆皮大学牲 · 2026-07-11T13:38:03.000Z · 👍 1**: Warren Buffett, short some Tesla and TSMC. The logic is simple: Tesla is just a car maker, shorting it at a 400 PE ratio is like giving away money; TSMC's upward momentum has been weak recently and its price is fluctuating at a high level. A prolonged sideways movement will inevitably lead to a drop
- **管住下单的大拇指 · 2026-07-11T13:00:44.000Z · 👍 1**: Seeing you bought on Friday scared me, so I made a little profit and ran quickly.Now seeing you sold, I'll buy in on the Monday night market.
- **未来millionaire · 2026-07-11T12:50:09.000Z**: You can open a position on Monday.
- **正在缓冲 · 2026-07-11T12:35:11.000Z**: Damn, that's so right
- **拜登的交易员エウベル · 2026-07-11T12:16:30.000Z · 👍 22**: Spent the whole night making a big fuss and ended up buying one share, buying high and selling low, losing more than three dollars, right? 🤡 Major positive news, storage is still going to break new highs."Gambling God Little Gu's 8-Hour Investment Retreat: From Passionate Buying to Quietly Taki
  - **跟顾神反着买** (2026-07-11T14:07:15.000Z): Top-tier
- **乐乐赚够100万就收手 · 2026-07-11T12:02:17.000Z**: So what about TSMC according to you?
- **迪迪迪 · 2026-07-11T11:57:08.000Z**: Certified by Gu Shen: The storage cycle has not ended yet.
- **Vera Rubin · 2026-07-11T11:56:26.000Z**: God has a reason for this
- **股魔大霍 · 2026-07-11T11:52:19.000Z · 👍 4**: The directors of SK Hynix and Lee Jae-myung knelt directly before the god, continuously kowtowing and shouting: Thank you, God, for sparing our lives, seumida!! 😇😇😇
- **孙割的交易员 · 2026-07-11T11:24:02.000Z**: Major positive news
- **卖卖空调来补仓 · 2026-07-11T11:12:01.000Z**: Positive news,
- **跟顾神反着买 · 2026-07-11T10:53:41.000Z · 👍 4**: @京城Z先生 Epic-level positive news