SK Hynix Drops 5%, SanDisk Slides 6%, Western Digital Slips 4% as Traders Take Profits in Memory Stocks Quick Read – SK Hynix whipsawed from a 27% Tuesday surge to a 6% Wednesday drop as traders lock in gains, with Micron up 244% YTD. – Western Digital is the mildest decliner…
ead of its July 29 earnings, while the Roundhill Memory ETF tracks the group down 3%. – Four new leveraged SK Hynix ETFs launched this week mechanically amplify intraday swings and can lose an investor’s full principal in a single session. – Memory stocks are pulling back sharply Wednesday morning as traders lock in gains after a parabolic run. SK Hynix’s (NASDAQ:SKHY) U.S.-listed ADR is down 5% to $184.50 in early trading, giving back a chunk of yesterday’s 27% surge to $193.92
The reversal is rippling through the group. Micron Technology (NASDAQ:MU) shares are off 3% to $953, SanDisk (NASDAQ:SNDK) shares are down 6% to $1,658, and Western Digital (NASDAQ:WDC) shares are down 4% to $541. The Roundhill Memory ETF (CBOE:DRAM) is tracking the group lower, off 3% to $59.
The pullback follows one of the strongest rallies in semiconductors this year, with Micron shares up 244% year to date (YTD) and SanDisk shares up 640% YTD at Tuesday’s close. There’s no confirmed company-specific negative catalyst, and the move looks like broad profit-taking in the priciest AI beneficiaries. Profit-Taking Caps a Parabolic Run SK Hynix stock has been the volatility story of the sector since its record NASDAQ ADR debut.