Why SK Hynix Stock Skyrocketed This Week
SK Hynix just had a monster week on the market.
Overview
SK Hynix (NASDAQ: SKHY) stock enjoyed a strong rally this week, with its share price rising 20.6% across the stretch. The S&P 500 rose 1.2% over the period, and the Nasdaq Composite gained 1.7%.
SK Hynix's share price moved higher due to news that Singapore's sovereign wealth fund was poised to invest in the company and a new market share report from Counterpoint Research. Bullish momentum for the broader South Korean stock market also helped to lift the stock.
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Details
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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.