The chipmaker’s stock fell under its $170 opening price, mirroring SpaceX’s post-IPO decline amid valuation concerns.
SK Hynix shares dropped below their $170 IPO price on day one, correcting faster than SpaceX’s similar retreat. The stock had peaked at $177 before reversing, reflecting investor skepticism over lofty valuations despite strong demand for its HBM chips in AI infrastructure.
SpaceX, which priced at $135 and opened at $150, surged to $225 before retreating over a month. Both companies face scrutiny as markets reassess hype-driven IPO valuations against fundamentals. Hyperscalers are projected to spend $1.8 trillion on AI infrastructure through 2027, supporting HBM pricing.
The rapid pullback underscores a broader trend of post-IPO volatility, particularly in high-growth sectors like AI and space technology.