SK Hynix Inc.'s American Depositary Receipts (ADRs) rose more than 6% in Tuesday's premarket session as investors continued to embrace the memory-chip maker's U.S. listing and artificial intelligence narrative. The gains extended the stock's strong Nasdaq debut after the company completed a $26.5 billion U.S. listing, with market commentary suggesting the ADRs priced at roughly a 3% premium to the Seoul-listed shares. Despite the U.S. optimism, SK Hynix's Seoul-listed shares tumbled 12.89% to KRW 1.89 million on Monday as investors locked in profits and weighed valuation concerns following the additional share issuance.

SK Hynix's ADRs began trading on the Nasdaq under the ticker SKHY on Friday, July 10, 2026. The company priced the ADRs at $149, with the stock opening 14% higher at $170 and finishing its debut session up 12.76% at $168.01. The shares added a further 2.43% in after-hours trading. The domestic selloff in Seoul reflects a "correctional period" driven by the additional share issuance, with analysts noting caution ahead of second-quarter earnings on July 29.

Strategic Positioning and Market Reaction

The company is widely viewed as a leader in high-bandwidth memory (HBM), a critical technology used in AI accelerators and advanced computing systems. This positioning has helped strengthen investor interest in the new U.S.-listed shares, even as Seoul-listed shares retreated from Friday's close of KRW 2.180 million. Market participants have focused on SK Hynix's valuation relative to rivals such as Micron Technology Inc.

The strong reception for SK Hynix's Nasdaq debut has also fueled speculation regarding Samsung Electronics Co. Ltd. Bloomberg reported Tuesday that Samsung has begun preliminary discussions with banks about a potential U.S. initial public offering or ADR listing. However, Reuters later reported that Samsung stated it is not reviewing the possibility of issuing American depositary receipts, pushing back on the earlier report.

SK Hynix Inc., headquartered in Korea, is a top-tier semiconductor supplier offering Dynamic Random Access Memory chips (DRAM) and flash memory chips (NAND flash) for customers globally.

SK Hynix began trading on Nasdaq under the ticker SKHY on July 13, 2026, completing a roughly $29 billion offering that stands as the largest ADR listing ever recorded. The listing surpasses previous records set by Alibaba in 2014 and Saudi Aramco in 2019, providing U.S. investors access to the world's dominant supplier of High Bandwidth Memory (HBM). The company commands an estimated 50% to 70% of the global HBM market, making it a critical partner for AI chipmakers like Nvidia. Institutional anchors committed roughly $7 billion before the first trade, and forecasts point to 2026 net profit growth above 400%.

GraniteShares announced the launch of two leveraged ETFs tied to the stock: the GraniteShares 2x Long SK Hynix Daily ETF (ticker: SKUU) and the GraniteShares 2x Short SK Hynix Daily ETF (ticker: SKDD). SKUU seeks daily investment results corresponding to 200% of the daily performance of SKHY, while SKDD seeks results corresponding to -200% of that daily performance. Both funds are designed as short-term trading vehicles that reset daily, carrying substantial risks for investors who do not monitor their positions frequently.

The bull case for SK Hynix is driven by the insatiable demand for AI infrastructure, as every advanced AI accelerator in production relies on the memory the company manufactures. However, the bear case is rooted in valuation risks; SKHY arrives following a 710% twelve-month rally in its Korean shares and a recent 25% drawdown as AI sentiment cooled. The convergence of a record offering with a historic run-up suggests the potential for violent daily price movements.

Key Features of the SK Hynix ETFs

These products add to the proliferating landscape of single-stock ETFs, allowing traders to take amplified bullish or bearish positions on one of the AI sector's most critical components. The funds are distributed by ALPS Distributors, Inc., which is not affiliated with GraniteShares.