$SK hynix(SKHY)$ SK Hynix is on track to post a pretty conservative yearly profit of $250 a share. That translates to $2,500 for the main stock in South Korea and $250 on NASDAQ at some point in the next 6 months. SKHY is the ADR in the US, which represents 10% of the main stock in Korea.
$SK hynix(SKHY)$ It seems to me most of the drop was just from margin cascades. From where I stand, that looks mostly cleared out now, so we're back to normal trading. I had my own margin calls during the dot-com era, so I've seen this play out before.
$Tesla Motors(TSLA)$ $SpaceX(SPCX)$ Bulls are having the last laugh, claiming Tesla and SpaceX can save that first penny on semiconductors by building a $100 billion "giant chip fab."
$SK hynix(SKHY)$ I don't think we'll see any meaningful stabilization until the leveraged bets calm down over there. When two companies make up more than 50% of the national index and retail is pouring into leveraged instruments, these moves become self-reinforcing. KOSPI has corrected 40% in a single month. That's extreme. There have been 7 circuit breakers since Jun 8 and 12 sessions with declines greater than 5%. With margin running at 500%, a 5% drop likely triggers a margin call, a 10% drop wipes out half, and a 20% move takes out the entire equity position. Offshore retail casinos don't even come close to this level of risk-taking.