SK Hynix American Depositary Receipts (ADRs) fell 15.4% in New York trading, marking the steepest single-day decline in the history of the US-listed securities.
The sell-off erased the substantial gains recorded during the company's initial public offering on the Nasdaq earlier in the week.
The memory chipmaker's shares had surged 13% on their debut, underscoring strong initial investor appetite for the South Korean firm's US-listed shares.
The memory chipmaker's shares had surged 13% on their debut, underscoring strong initial investor appetite for the South Korean firm's US-listed shares.
The listing, which raised $26.5 billion, was one of the largest technology offerings in recent years.
However, the subsequent sharp reversal suggests that early buying enthusiasm has given way to profit-taking or broader sector caution.
The volatility in SK Hynix's ADRs comes as investors assess the valuation of major semiconductor names following large-scale capital raises.