SK Hynix opens at $170 on Nasdaq, entering U.S. markets at a trillion-dollar valuation
NEW YORK, July 21. SK Hynix shares opened at $170 on the Nasdaq, the company disclosed, as the chipmaker made its stock available to U.S. investors for the first time on an American exchange. The company reported a trillion-dollar market capitalization at the time of the listing.
Key takeaways
- SK Hynix shares opened at $170 on the Nasdaq, the company's first recorded price on an American exchange.
- The listing gave SK Hynix a trillion-dollar market capitalization at the time of its debut.
- SK Hynix built its valuation by supplying chips to major technology companies including Nvidia and Apple.
- The Nasdaq debut gives U.S. investors direct access to SK Hynix shares without going through a foreign market.
- The listing marks the first time SK Hynix stock has been made available to U.S. investors on an American exchange.
NEW YORK, July 21. SK Hynix shares opened at $170 on the Nasdaq, the company disclosed, as the chipmaker made its stock available to U.S. investors for the first time on an American exchange. The company reported a trillion-dollar market capitalization at the time of the listing.
How SK Hynix reached a trillion-dollar market cap
The chipmaker built its valuation supplying chips to companies including Nvidia and Apple, the company said. Both are among the largest technology companies in the world.
The customer roster explains the scale. Nvidia and Apple together represent a substantial portion of global demand for advanced chips, and SK Hynix's position supplying both helped push its market capitalization into ten-digit territory.
What the $170 Nasdaq opening means for investors
The $170 opening price is the first SK Hynix has recorded on the American exchange, the release shows. The Nasdaq debut gives U.S. investors direct access to shares in the chipmaker without going through a foreign market.