It seemed like the golden year of Ipo. But the latest stock market debuts are deeply disappointing investors. After the surge in stellar IPOs, Sk Hynix e SpaceX They have deflated and their prices have fallen below the offering price and the newly licensed Chinese driver is experiencing the same story Cxmt.
Sk Hynex: From Flight to Dive
In these hours the South Korean is in the spotlight Sk Hynix that he lost in Seoul nearly 15% in Seoul this morning, dragging the Kospi index (-11%) and its colleague/rival Samsung (-13,3%) with it. SK Hynix, with a drop of nearly $600 billion in just over a month, has gone from being one of the world's most promising stocks in the artificial intelligence sector to one of the biggest question marks in portfolios. Shares of the South Korean memory chip maker, which tomorrow will publish the quarterly report, have fallen 47% from their all-time high in June, due to concerns about market overcrowding and a surge in leverage-induced volatility. SK Hynix he leaves the club like this of the $1 trillion companies. The stock's sharp decline has accentuated its traditional cheapness, due to the cyclical nature of the memory sector. SK Hynix shares are now trading at 3,7 times expected earnings, half what they were a month ago and below its competitor's multiple of 6,2 times. Micron Technology.
The Korean company's shares have a greater impact on global investors following the listing on Wall Street of its American Depositary Receipts (Adr), whose value has fallen to below the offer price July 9, 2020, at $149. SK Hynix ADRs closed yesterday at $143,02 each, down 4% from their listing price, after a low of $139,01. Although tomorrow's data is expected to record profits, Investors fear that rising memory costs will force customers to reduce their usage and turn to cheaper alternatives. This is where the Chinese competition: The Information reported progress in the development of deep ultraviolet (DUV) lithography machines by a Chinese company (which it did not name) that has wreaked havoc on the markets as DeepSeek had done. January of last year.
But SK Hynix's decline also coincided with news that Nvidia is partnering with the company to build over 2 gigawatts of AI data centers on the Korean peninsula. This is enough energy to power approximately 1,5 million homes. The first of these so-called "AI factories," built by SK Telecom Co., will open next year, Nvidia said.
The similar story of SpaceX and the newly licensed Chinese company Cxmt
The story of Sk Hynix is reminiscent of that of Elon Musk's SpaceX, which fell from its post-IPO peak to a value below its IPO price in just a month. Yesterday it closed at $113, far from its previous high. placement initial of 135 dollars.
All eyes are now on the Chinese memory chip maker Cxmt Corp., whose shares have soared more than 460% since their stock market debut in Shanghai yesterday, when it closed at 49 yuan, compared to the selling price of 8,66 yuan per share, after reaching an intraday high of 55,03 yuan. This morning, it fell 2% to 47 yuan.
Waiting for the next IPOs
Even without splashy deals like those of SpaceX and SK Hynix, the US IPO market as a whole did not record outstanding performances. The decline in stocks linked to themes such as infrastructure for theartificial intelligence and aerospace sector and defense, two of the hottest sectors for recently listed companies, has reduced the weighted average return on U.S. initial public offerings (IPOs) this year to 6%, lower than the 11% return for the S&P 500 index, according to data compiled by Bloomberg 15 until July.
Investors are waiting for other IPOs In the USA, far from the artificial intelligence sector, with Blackstone-backed Jersey Mike's Subs and Cumberland Farms, a gas station and convenience store operator, having scheduled their official IPOs in the coming days. These would be the first consumer-focused companies to go public with sizable deals since Suja Life's debut in May. The few notable consumer goods companies that have gone public this year have posted disappointing performances, ranging from Suja Life's 48% decline to Yesway Inc.'s 3,3% gain. After the summer, there is no guarantee that there will be a resurgence in IPOs, analysts say, led by anthropic, which could be listed on the stock exchange as early as October,
