SK Hynix Nasdaq debut wey dem measure well-well

For July 10, 2026, SK Hynix — di Korean memory-chip giant wey be Micron closest listed rival — start dey trade for Nasdaq. Na di second-largest US listing for dis year, after SpaceX June deal. Dis page gather SK Hynix Nasdaq debut from primary records: di raise, di day-one tape, di young spread, di short-volume file, and di meaningful silence from di options tape. Every number na stored query; expand any panel for di SQL.

Who be SK Hynix, and why dis debut matter

SK Hynix na one of di two big-big memory-chip makers for di world, side-by-side with Samsung Electronics, and Micron na di third among di big three. Dem dey build DRAM — di working memory wey dey inside every server and PC — NAND flash for storage, and, di AI-era hook, HBM: high-bandwidth memory, stacks of DRAM wey dem bond directly beside one AI accelerator to feed am data fast-fast so e go dey busy. Every leading AI GPU dey ship with HBM attached, and dat one put SK Hynix squarely inside di AI-hardware supply chain wey don dominate di 2026 tape. Before July 10, any US investor wey want pure-play listed memory exposure get essentially one big ticker, MU. Now both memory giants dey print on di same tape, in dollars, during US hours.

Di paper trail and di deal

Di listing record and di SEC filing index show di deal clear — venue, wrapper, size, and di maths wey connect dem:

WITH sk AS (
    SELECT
        any(issuer_name) AS issuer,
        toString(any(listing_date)) AS listed,
        any(primary_exchange) AS exchange_mic,
        any(security_description) AS security,
        round(toFloat64(any(final_issue_price)), 2) AS px,
        round(any(total_offer_size) / 1e9, 1) AS raised,
        round(any(max_shares_offered) / 1e6, 1) AS ads_m,
        round(any(max_shares_offered) * toFloat64(any(final_issue_price)) / 1e9, 1) AS math_bn,
        any(total_offer_size) AS raw_size
    FROM global_markets.stocks_ipos
    WHERE issuer_name = 'SK Hynix Inc' AND listing_date = '2026-07-10'
)
SELECT
    issuer,
    listed,
    exchange_mic,
    security,
    px AS recorded_issue_price,
    raised AS raised_bn,
    ads_m AS ads_offered_m,
    math_bn AS shares_x_price_bn,
    (SELECT count() FROM global_markets.stocks_ipos
     WHERE listing_date >= '2026-01-01' AND listing_date <= '2026-07-10'
       AND total_offer_size > (SELECT raw_size FROM sk)) AS larger_2026_raises,
    (SELECT countIf(form_type IN ('F-1', 'F-1/A')) FROM global_markets.stocks_sec_edgar_index
     WHERE issuer_name ILIKE '%hynix%' AND filing_date >= '2026-05-01' AND filing_date <= '2026-07-10') AS f1_registrations,
    (SELECT countIf(form_type = 'F-6') FROM global_markets.stocks_sec_edgar_index
     WHERE issuer_name ILIKE '%hynix%' AND filing_date >= '2026-05-01' AND filing_date <= '2026-07-10') AS f6_adr_registrations
FROM sk

Di records: SK Hynix Inc, wey dem list 2026-07-10 for exchange XNAS — di Market Identifier Code for di Nasdaq Stock Market, di receipt for di venue for dis page title. Di security field read ADR: di US line na American Depositary Shares — di wrapper wey US investors dey really trade — on ordinary shares wey still dey list for Seoul. Di deal itself: 177.9 million ADSs for a recorded issue price of $158.14. Multiply di two and you go get $28.1B — e match di recorded 28.1B raise; di maths balance. Exactly 1 US listing raise more for 2026 — SpaceX June deal — a rank wey di league table below dey show instead of talk. Di filing trail mark a foreign private issuer debut: 2 F-1 registrations (di overseas equivalent of an S-1) and 1 F-6, di form wey register di ADS program itself.

Wetin di record no carry dey important to state plainly. Im lowest and highest recorded offer prices equal — di field store di final price, no be di marketed range, so you no fit check pricing-versus-range here. Underwriter names and di ADS-to-ordinary-share ratio dey inside di F-1 and F-6 documents; our EDGAR index count those filings without parsing wetin dey inside dem. Di shares-outstanding field empty, so dis page no compute any market capitalization — we no dey publish figures wey we no fit receipt. Di ratio still matter mechanically: each ADS represent a fixed number of ordinary shares wey dem set for di F-6, and depositary banks fit create or cancel ADSs against di Seoul line — di conversion channel wey di US price and di Korean price dey use discipline each other.

Where $28B raise rank for 2026

"Second-largest of the year" na claim, so make we check di league table straight from di offering records — full gist dey for di H1 IPO ledger:

SELECT
    issuer_name,
    toString(max(listing_date)) AS listed,
    round(max(total_offer_size) / 1e9, 1) AS raised_bn,
    round(100 * max(total_offer_size) / max(max(total_offer_size)) OVER (), 1) AS pct_of_largest
FROM global_markets.stocks_ipos
WHERE listing_date >= '2026-01-01' AND listing_date <= '2026-07-10'
  AND ipo_status IN ('new', 'history') AND total_offer_size > 0
GROUP BY issuer_name
ORDER BY raised_bn DESC, issuer_name
LIMIT 8

SpaceX June listing dey lead with $75B; SK Hynix own wey be $28.1B stand as second, e be like 37.5% of am, and third place — Cerebras Systems Inc — raise $5.6B. Di real tori for di chart na di sharp drop after second place: 2026 don turn to year wey get only two mega-deal, and dis na one of di two.

Make we clear one thing, since two dollar figures for dis page dey close enough to mix up: di $28.1B na di offering — capital wey dem pay once, at di issue price — while di $18.03B wey dey down na day-one trading turnover, shares wey dey change hand for market price, mostly between investors wey no even near di deal.

Di first session, for one row

SELECT
    round(toFloat64(argMinIf(open, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)), 2) AS first_rth_print,
    round(100 * (toFloat64(argMinIf(open, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959))
        / (SELECT toFloat64(any(final_issue_price)) FROM global_markets.stocks_ipos
           WHERE issuer_name = 'SK Hynix Inc' AND listing_date = '2026-07-10') - 1), 1) AS open_vs_issue_pct,
    round(minIf(toFloat64(low), (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959), 2) AS day_low,
    round(maxIf(toFloat64(high), (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959), 2) AS day_high,
    round(toFloat64(argMaxIf(close, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)), 2) AS first_close,
    round(100 * (toFloat64(argMaxIf(close, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959))
        / (SELECT toFloat64(any(final_issue_price)) FROM global_markets.stocks_ipos
           WHERE issuer_name = 'SK Hynix Inc' AND listing_date = '2026-07-10') - 1), 1) AS close_vs_issue_pct,
    round(sumIf(toFloat64(close) * toFloat64(volume), (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959) / 1e9, 2) AS rth_dollar_bn,
    round(toFloat64(sum(volume)) / 1e6, 1) AS day_shares_m,
    (SELECT count() FROM global_markets.delayed_stocks_minute_aggs
     WHERE ticker = 'SKHYV' AND window_start < toDateTime('2026-07-10 00:00:00')) AS bars_before_debut
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker = 'SKHYV'
  AND window_start >= toDateTime('2026-07-10 04:00:00') AND window_start < toDateTime('2026-07-11 00:00:00')

Di first regular-hours print cross for $170 — 7.5% above di issue price wey dem record. Di session range from $177 high reach $166.19 low, and e close for $168.33, still 6.4% above issue afta e fade from di open, on 18.03B of regular-hours dollars and 106.8 million extended-day shares: na di fifth-heaviest name for di whole tape, ahead of QQQ, as di recap for today record. Di symbol receipt: 0 minute bars dey exist before July 10 — na genuinely new symbol, no be like di reused one wey SpaceX im debut arrive with.

Day-one microstructure: one young spread

Wen dem list new stock, di bid-ask spread dey always wide for start. E go come tight small-small as market makers sabi di name well-well — day one na hour zero for dat seasoning:

How di day really arrange, print by print — wen di cross land, how much stock change hand for exchange and outside exchange, and wetin di closing auction settle:

SELECT
    formatDateTime(toTimeZone(min(sip_timestamp), 'America/New_York'), '%H:%i:%S') AS first_print_et,
    round(toFloat64(argMin(price, sip_timestamp)), 2) AS first_print_px,
    round(toFloat64(sumIf(size, NOT hasAny(conditions, [15, 16, 38]))) / 1e6, 1) AS matched_shares_m,
    round(toFloat64(maxIf(size, has(conditions, 8))) / 1e6, 2) AS closing_cross_shares_m,
    round(toFloat64(argMaxIf(price, (size, sip_timestamp), has(conditions, 8))), 2) AS official_close,
    round(100 * toFloat64(maxIf(size, has(conditions, 8))) / toFloat64(sumIf(size, NOT hasAny(conditions, [15, 16, 38]))), 1) AS cross_pct_of_day,
    round(100 * toFloat64(sumIf(size, exchange = 4 AND NOT hasAny(conditions, [15, 16, 38]))) / toFloat64(sumIf(size, NOT hasAny(conditions, [15, 16, 38]))), 1) AS off_exchange_pct
FROM global_markets.stocks_trades
WHERE ticker = 'SKHYV'
  AND sip_timestamp >= '2026-07-10 00:00:00' AND sip_timestamp < '2026-07-11 00:00:00'

Di first print land for 11:34:47 ET at $170 — na late-morning IPO cross, di standard shape for debut, and di whole session before di cross dey quoted one-sided. 107.7 million shares match for di day, 33% of dem na off-exchange, and di closing auction print 0.82 million shares for di official close of $168.01 — dat one na just 0.8% of di day, reminder say debut action dey live inside continuous trading, no be di close.

SELECT
    toHour(toTimeZone(sip_timestamp, 'America/New_York')) AS et_hour,
    round(quantileDeterministicIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, toUInt64(toUnixTimestamp64Micro(sip_timestamp)), bid_price > 0 AND ask_price > bid_price), 1) AS med_spread_bps,
    count() AS quote_updates,
    countIf(bid_price > 0 AND ask_price > bid_price) AS two_sided_updates
FROM global_markets.cache_stocks_quotes
WHERE ticker = 'SKHYV'
  AND sip_timestamp >= toDateTime64('2026-07-10 13:30:00', 9) AND sip_timestamp < toDateTime64('2026-07-10 20:00:00', 9)
  AND (toHour(sip_timestamp) * 60 + toMinute(sip_timestamp)) BETWEEN 810 AND 1199
GROUP BY et_hour
HAVING countIf(bid_price > 0 AND ask_price > bid_price) > 0
ORDER BY et_hour

Until di IPO cross print for 11:34:47 ET, no two-sided market dey to measure — di table start for di first hour with real quotes for both sides. From dere, di median spread run 10 bps for im first measurable hour and finish di day tighter (4.1 bps) — e already tight for day one pass wetin SpaceX June listing show for im early sessions, and dat one dey consistent with di size of di deal and di two-sided interest wey direct rival to MU dey attract. Where di spread settle by week two na di seasoning receipt to watch.

Di memory trade, same session

Di debut land for inside di most-traded story of di month: MU — di stock wey out-trade SPY itself for di whole week — plus di drive makers STX and WDC. Na di whole memory complex for debut day, regular hours only:

SELECT
    ticker,
    round(toFloat64(argMinIf(open, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)), 2) AS rth_open,
    round(toFloat64(argMaxIf(close, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)), 2) AS rth_close,
    round(100 * (toFloat64(argMaxIf(close, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)) / toFloat64(argMinIf(open, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)) - 1), 2) AS open_to_close_pct,
    round(sumIf(toFloat64(close) * toFloat64(volume), (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959) / 1e9, 2) AS rth_dollar_bn
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker IN ('SKHYV', 'MU', 'WDC', 'STX')
  AND window_start >= toDateTime('2026-07-10 04:00:00') AND window_start < toDateTime('2026-07-11 00:00:00')
GROUP BY ticker
ORDER BY rth_dollar_bn DESC, ticker

MU out-trade di newcomer even for im debut: $25.9B against SKHYV own $18.03B — first and second among memory names, with di drive makers far behind at $3.09B and $1.68B. Direction split across di complex: MU finish 1.42% higher open-to-close and di drive makers rally harder — STX 5.7%, WDC 3.28% — while di debut itself fade -0.98% from first print to close. Co-timing, on di record — and di new line instantly na di sector second-heaviest tape.

Short sellers show from day one

FINRA daily off-exchange volume file dey separate di shares wey dem mark short, and SKHYV dey inside from im very first session:

SELECT
    round(max(short_volume) / 1e6, 1) AS short_shares_m,
    round(max(total_volume) / 1e6, 1) AS offex_shares_m,
    round(100 * max(short_volume) / max(total_volume), 1) AS short_pct_of_offex,
    (SELECT uniqExact(ticker) FROM global_markets.stocks_short_volume WHERE date = '2026-07-10') AS file_ticker_count,
    (SELECT max(ticker) FROM global_markets.stocks_short_volume WHERE date = '2026-07-10') AS file_last_ticker
FROM global_markets.stocks_short_volume
WHERE ticker = 'SKHYV' AND date = '2026-07-10'

21.3 million out of 34.9 million off-exchange shares — 60.8% — dem mark short for debut day. Two disciplines dey before pesin go read meaning into dat one. First, di file complete: 15116 tickers, e run go reach ZYME — di completeness probe di June 29 forensics deep-dive show say e fit fail for middle of alphabet. Second, marked-short na plumbing before e be conviction: market maker wey sell shares wey e never locate go mark di print short as regulatory classification, and new listings dey route heavy through dat machinery. Daily short volume no be short interest; di first settlement-based print go land for di bi-weekly cycle later dis month — dat number dey measure positioning.

Options: receipt wey show sey nothing happen, plus one clock

No listed options trade for di debut — dis page store dat zero as data, next to one clock from di year two oda big debuts:

SELECT
    (SELECT count() FROM global_markets.options_trades
     WHERE ticker LIKE 'O:SKHYV%'
       AND sip_timestamp >= toDateTime64('2026-07-10 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-11 00:00:00', 9)) AS skhyv_debut_day_option_trades,
    (SELECT dateDiff('day', toDate('2026-06-12'), min(toDate(toTimeZone(sip_timestamp, 'America/New_York'))))
     FROM global_markets.options_trades
     WHERE ticker LIKE 'O:SPCX%'
       AND sip_timestamp >= toDateTime64('2026-06-12 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-11 00:00:00', 9)) AS spacex_days_to_first_option,
    (SELECT dateDiff('day', toDate('2026-05-14'), min(toDate(toTimeZone(sip_timestamp, 'America/New_York'))))
     FROM global_markets.options_trades
     WHERE ticker LIKE 'O:CBRS%'
       AND sip_timestamp >= toDateTime64('2026-05-14 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-11 00:00:00', 9)) AS cerebras_days_to_first_option

0 SKHYV option contracts print for July 10 — receipt wey show sey nothing happen, wey dem store as deliberate tripwire: di zero dey bounded at exactly zero, so di day options start to print, regeneration go fail loudly and dem go rewrite dis section instead of make e quietly go stale. Di clock from comparables: SpaceX June 12 listing see im first listed-option trade 4 calendar days after im debut; Cerebras May 14 listing take 4 — both dey inside one week. When di contracts arrive, dem go join di machinery di expiration calendar wey dey explain.

Risk and wetin to dey watch next

Day one na di only full session wey dey: di first day na Friday and dis page show for weekend, so di second session go print Monday, July 13 — im receipts go land for di daily recaps, and one-month review go follow like di SpaceX first-month review pattern. Di watchlist:

• Di two-price structure. Di Seoul ordinaries dey trade for won during Korean hours; di ADS dey trade for dollars during US hours. Di dollar price carry di won rate inside am, gap fit open wen one market dey sleep, and depositary conversion dey close dem — ADS holder automatically get currency exposure join body.
• Di lock-up. Insider lock-up terms dey inside di F-1 — e dey around 180 days normally, di exact date dey di prospectus (wey our EDGAR index dey count, no be parse). Expiry na known future supply event.
• Index eligibility. SpaceX index add show wetin inclusion announcement dey do to young ticker tape. Committees dey publish dia own rules and timelines; announcement, if e come, na tape event to measure — no be to predict.
• Di first short-interest settlement print, wey dey convert day-one short-volume plumbing into actual positioning number.

SK Hynix debut FAQ

Wetin be SK Hynix US ticker, and where e dey trade?

Di US line dey trade as SKHYV for Nasdaq — di listing record carry exchange code XNAS, wey be Nasdaq Market Identifier Code, and security type ADR: American Depositary Shares, while di ordinary shares still dey list for Seoul.

How big di SK Hynix US listing be?

177.9 million ADSs at $158.14, na 28.1B raise — e be di second-largest US listing for 2026: na exactly 1 deal, SpaceX June raise, come bigger, according to di H1 ledger.

How SK Hynix stock take do for im first day?

E open 7.5% above di issue price at $170, e range $166.19–$177, and e close at $168.33 — 6.4% above issue — on 18.03B of regular-hours dollar volume, wey be di session fifth-heaviest tape.

How many ordinary shares one SKHYV ADS dey represent?

Di ratio dey fixed for di F-6 registration (1 wey dey on file before di listing), e no be field wey di listing record dey carry — read am from di F-6 or di depositary program page before you compare di US price to di Seoul quote.

When SK Hynix options go start to dey trade?

Zero SKHYV contracts print for debut day. Di two oda big debuts for dis year take 4 and 4 calendar days to get dia first listed-option trade — if SKHYV follow di pattern, options go show within im first week, and dis page tripwire go flag di moment e happen.

Data notes

Every panel na stored, versioned query over listing records, SEC filings, and di tape — expand di SQL, or follow di seasoning on di Strasmore terminal.