SK Hynix's 30% flash crash in pre-market trading in Nextrade, showing abnormal fluctuations for the second time since last week

On August 6, according to a report by the Financial News Agency, South Korean memory chip giant SK Hynix briefly plunged in Nextrade's pre-market trading for the second time in about a week, once again triggering market doubts about the sharp fluctuations in prices on South Korea's alternative trading platforms. At 8 a.m. local time on Thursday, SK Hynix traded 11 shares at 1.168 million won per share at Nextrade, a drop of 30% from the previous day's closing price and hit the daily limit. At the end of the 50-minute pre-market trading session, the decline narrowed to about 2%. During the regular trading hours of the Korea Stock Exchange that morning, SK Hynix's share price fell 9.8%. After the US memory chip company SanDisk's revenue outlook for the fiscal quarter fell short of expectations, its share price fell sharply in after-hours trading, and South Korean chip stocks generally weakened. This sharp volatility is highly similar to last Tuesday's trend. At that time, SK Hynix also plunged 30% in pre-market trading, and then narrowed its decline. That incident caused the price of a derivative contract linked to SK Hynix shares traded on cryptocurrency exchange Hyperliquid to fall by about 20%, forcing long positions holding the contract to be closed by nearly $60 million in two minutes.