$SK hynix(SKHY)$ $Micron Technology(MU)$ $SanDisk Corp.(SNDK)$ $Invesco QQQ(QQQ)$ SK is down 3% and Samsung is down 9%. Kospi is down 3.6%.
Samsung is firming up its shareholder return policies and the stock slumps 10%.
However, according to Mirae Asset Securities, the #1 stock bought today by the top 1% of investors in Korea and Asia is Samsung. So clearly tactics have been deployed to dump the stock price, and under cover of the selloff, professional investors and institutions are loading up.
Samsung SDI is up 7% and is the #2 stock purchased, while SK Hynix is the #3 most purchased even though its stock is off too.
Needless to say, looks are deceiving. The fact that our stocks have gotten run down as well just smells like manipulation and not selling.
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