Why SK Hynix Stock Popped Today
Did President Trump accidentally start a rally in a Korean memory chip stock?
Overview
Korean memory chip manufacturer SK Hynix (NASDAQ: SKHY) stock jumped 4% through 10 a.m. ET Monday -- and it has Donald Trump to thank for it.
Over the weekend, Trump Commerce Secretary Howard Lutnick told The Wall Street Journal that the Trump administration "is not in favor" of plans floated by Apple (NASDAQ: AAPL) to solve its supply problems by buying memory chips from Yangtze Memory Technologies and CXMT in China.
Image source: Getty Images.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.