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The Second-Biggest Stock Sale in History Hits the Nasdaq Friday, and Chip Stocks Are Ripping
24/7 Wall St.33d agoneutral
The Second-Biggest Stock Sale in History Hits the Nasdaq Friday, and Chip Stocks Are Ripping

SK Hynix, the world’s second-largest memory-chip maker, is coming to the NASDAQ on Friday with the largest stock sale anyone has priced in years, and the chip complex is already pricing it in. CNBC’s Kristina Partsinevelos reported Monday that “SK Hynix plans to raise roughly $28 billion through an American depositary receipts, or ADR, on ... The Second-Biggest Stock Sale in History Hits the Nasdaq Friday, and Chip Stocks Are Ripping

Chip Stocks Still Below Levels Seen Before Last Week’s SellOff
Barrons.com33d agobearish
Chip Stocks Still Below Levels Seen Before Last Week’s SellOff

The PHLX Semiconductor Index is up 3.5%, fueling the Nasdaq and S&P 500’s respective 1.3% and 0.7% gains, but the chip index hasn’t climbed back to levels seen before last week’s selloff. Morgan Stanley Chief Investment Officer Mike Wilson said this underperformance in chip stocks is helping the broadening trade.

Chip Stocks Lead Early Market Gains. Nasdaq Jumps, Dow Falls.
Barrons.com33d agoneutral
Chip Stocks Lead Early Market Gains. Nasdaq Jumps, Dow Falls.

Wall Street returned from the long weekend ready to buy the dip in chip stocks. The Nasdaq was up 0.9%. After opening higher, the Dow was down 190 points, or 0.3%. The S&P 500 was up 0.4%. The iShares Semiconductor ETF, which was battered late in the holiday-shortened week, was rallying back again.