SK hynix returned to the 290,000 won level just a day after surpassing 300,000 won per share.
According to the Korea Exchange, as of 9:41 a.m. on the 15th, SK hynix's stock price in the KOSDAQ market was at 292,000 won, down 2.67% (8,000 won) from the previous session.
The day before, SK hynix closed at 300,000 won, marking the highest price in 14 years since joining the SK Group in 2011, but gave up the 300,000 won mark in just one day.
The decline in SK hynix's stock price is interpreted as being due to concerns over high valuations and the potential for oversupply of high bandwidth memory (HBM).
JP Morgan noted earlier that "Nvidia may have excessive HBM3E inventory and could have overbooked its orders for next year."
Meanwhile, SK hynix has shown strength as its major client, Nvidia, recently surpassed a market capitalization of $4 trillion (approximately 5,500 trillion won) in the U.S. stock market, becoming the first corporation in the world to do so.
On the other hand, Nvidia's stock closed at $164.07, down 0.52% from the previous trading day in the New York market.