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A popular U.S.-based gaming brand owned by Microsoft is facing fury after mass employee layoffs occurred in the wake of the company being approved for thousands of foreign worker visas.

SK Hynix ADRs Open At $170, Tapping Wall Street Liquidity To Fuel Korea's AI Memory Boom

Summary:

• SK Hynix's ADR Open at $170
• SK Hynix Chairman Tells Bloomberg "Demand Will Be Exponentially Growing In Future" 
• SK Hynix's ADRs Set to Open $175 
• SK Hynix's ADRs Set to Open at $181, 22% Premium Above $149 Offering Price 
• SK Hynix ADRs Priced At 3% Premium As Wall Street Readies Wave Of Leveraged ETFs

SK Hynix's ADR Open at $170 

Shortly after SK Hynix Chairman Chey Tae-won appeared on Bloomberg to promote the listing, the memory-chip giant's ADRs finally began trading at $170 per share, up 14% from the $149 offering price.

SK Hynix's ADRs Set For $175 Opening; Chairman Chey Tae-won Comments On BBG

SK Hynix's ADRs are now indicated to open at $175, about 17% above their $149 offering price.

SK Hynix Chairman Chey Tae-won told Bloomberg's Edward Ludlow earlier that "Demand will be exponentially growing in the future."

"That actually requires a better return," Chey said, adding, "Once we have a better return, then there's more demand. The first thing we have to do is keep the stock price stable, and then hopefully in the long run we can have the upside potential."

Separately on Wall Street, Thornburg Investment Management analyst Di Zhou noted, "We are currently in this memory super cycle. Fundamentals are very strong and SK Hynix is one of the highest quality pure-play memory players globally."

SK Hynix's ADRs Set to Open At Premium

SK Hynix's ADRs, trading under the temporary ticker SKHYV, are indicated to open at $181 per share, 22% above their $149 offering price. The strong opening suggests robust investor demand for the world's leading supplier of high-bandwidth memory.

As noted earlier, SK Hynix sold 177.9 million ADRs at $149 per share, raising roughly $26.5 billion. Each receipt represents one-tenth of a Seoul-listed common share.

The temporary trading symbol SKHYV will switch to SKHY when regular-way trading begins next Monday.

Roth Capital Partners' sales trading team asked:

One may ask how investors, looking back in two years, will come to view the timing and meaning of SK Hynix’s U.S. offering?

SK Hynix ADRs Priced At 3% Premium As Wall Street Readies Wave Of Leveraged ETFs

The next test of the AI trade arrives today, as South Korean memory-chip maker SK Hynix's American depositary receipts begin trading under the temporary ticker SKHYV.

Shares were priced at about a 3% premium to Thursday's close of its ordinary shares in South Korea. The $26.5 billion offering attracted demand for roughly seven times the shares available, forcing the chipmaker to scale back allocations to major investors, according to Bloomberg.

The company sold 177.9 million ADRs at $149 each, raising $26.5 billion, surpassing Alibaba's US debut to become the third-largest listing in history. Each ADR represents one-tenth of a Seoul-listed common share, giving US investors direct exposure to the world's leading supplier of high-bandwidth memory amid the AI boom that could soon unlock the Physical AI boom.

According to the report, Baillie Gifford, Coatue Management, and Situational Awareness Partners received about $5 billion of ADRs, roughly $2 billion less than indicated. Over 500 institutional investors placed orders, including long-only funds, technology specialists, and sovereign wealth funds. The allocation remained concentrated, with 10 investors taking half the deal and the top 25 accounting for about two-thirds.

Wall Street analysts weighed in with their first takes of the deal, courtesy of Bloomberg:

Jung In Yun, CEO at Fibonacci Asset Management

• "I take 3% premium as a constructive signal. It shows that global investors are still willing to pay up for direct US access despite the recent volatility in Korean equities"
• From the company's and banks' perspective, the level looks sensible; it is strong enough to demonstrate demand, but not so aggressive that it creates unnecessary aftermarket risk
• In the current market, a clean, stable debut matters more than squeezing out the last few percentage points of valuation

Sanghyun Park, founder of Clepsydra Capital

• It shows global funds accept paying up to bypass local index and currency friction and direct exposure to the company's HBM dominance
• The banks capitalized on the limit to conversion that prevents arb traders from instantly erasing the spread on the first trading day
• This avoids the typical Korea Discount seen with legacy local names and points toward a TSMC-style scarcity model
• "Since 3% is just the primary floor and the float is so heavily choked, we could easily see the premium gap much higher once US trading opens on Friday"

Travis Lundy, an independent special situations analyst who publishes on Smartkarma

• "To me that is not that much of a premium. Eminently reasonable given the current swap rates on owning SK Hynix" local shares
• The 3% premium to Thursday's close is actually a discounted price to Wednesday's close and every other close for the past few weeks when investor demand was "multiple times" the offering size
• There is an interesting dynamic whereby if the headroom expands, it will take pressure off the banks to fund local into swaps, which should reduce the swap rate, which should in turn reduce the ADR premium slightly

Dilin Wu, a strategist at Pepperstone Group

• "The 3% premium tells you the roadshow demand was strong enough to price above Thursday's Korean close — and that's the first concrete evidence that the accessibility premium is real"
• The real test will be the first two weeks of trading before upcoming earnings; if the ADR consistently trades above the Korean share dollar equivalent, it confirms US investors are willing to pay a premium for accessibility — and that should pull the Korean shares higher
• The ADRs could be included in the Nasdaq 100 in December; once that inclusion happens, passive fund inflows from vehicles like the Invesco QQQ become a mechanical buying force

Francis Oh, head of Asia business development at Rex Financial, which provides exchange-traded products

• "The current 3% premium should not be over-interpreted at this early stage"
• "TSMC's 18% premium reflects structural friction that accumulated over years, not a level established immediately post-listing; any meaningful convergence or divergence for SKHY toward comparable levels is more likely to unfold as a gradual"

SK Hynix's ADR offering comes weeks after SpaceX tapped the public markets in the largest initial public offering in history, while Alphabet is raising $85 billion to fund its AI buildout. Traders are betting heavily that AI-related demand is a secular growth story for memory stocks, which have historically been viewed as more cyclical.

Bloomberg expects that the US debut of SK Hynix will unlock a new "wave of leverage ETFs" tied to the chipmaker's American depositary receipts. It expects ProShares, Leverage Shares and Rex Shares are some of the fism planning to products taht offer 2x daily returns on the memory chip giant.

Bloomberg Intelligence noted:

A fresh pool of leveraged US-listed ETPs would mean the daily rebalancing flows would grow larger, potentially fueling already heightened volatility. The size of the leveraged products also made it difficult to meet the promise of delivering twice daily returns, creating a tracking gap.

The key question is whether SK Hynix's blockbuster ADR offering can juice memory stocks again, especially after our note earlier this week, "South Korea Falls Into Bear Market As Memory Euphoria Fizzles."

Tyler Durden Fri, 07/10/2026 - 11:55

Les Bleus will face the winner of Spain-Belgium at AT&T Stadium on July 14.

His body was recovered Monday and positively identified as his remains the following day using dental records.

The Pentagon released its fourth batch of UFO files Friday following President Trump's declassification order earlier this year.

Watch: New Video Shows McConnell Wheeled Out On Stretcher After June Cardiac Emergency At D.C. Home

New video shows emergency responders loading Sen. Mitch McConnell (R-Ky.) onto a stretcher and into an ambulance outside his Capitol Hill residence on the morning of June 14, the same day the longtime Senate Republican leader was hospitalized.

The neighbor-recorded footage, first published Friday by CNN, depicts emergency vehicles - including multiple ambulances and a fire truck - clogging the street near McConnell's home as first responders wheel a person identified by witnesses as the 84-year-old senator toward an ambulance. The individual's face is not clearly visible in the video, but their lower legs and feet were seen under an orange blanket.

BREAKING BOMBSHELL

New audio and video have been leaked showing Sen. Mitch McConnell being loaded by stretcher into an ambulance when transported to the hospital - EMS recordings conform they found an unknown person who was "unconscious" due to "cardiac arrest," with "CPR in… pic.twitter.com/F5Aug8pmg8

— Conservative Brief (@ConservBrief) July 10, 2026 Dispatch Audio Cited Cardiac Arrest And CPR

The video adds new weight to emergency dispatch audio previously obtained by an independent journalist and reported by CNN. In that recording, responders were dispatched to McConnell's known address for an "unconscious" person experiencing a "cardiac arrest," with a paramedic heard saying "CPR in progress."

A neighbor who spoke with CNN said officers described it only as a "medical emergency" at the time but confirmed through another eyewitness that the person on the stretcher was McConnell. No sirens were used as the ambulance left the scene.

Prolonged Hospitalization Raises Questions

McConnell has remained hospitalized for nearly a month. His office has released only terse updates saying he is "receiving excellent care" and "continues his recovery," with few specifics on his condition or prognosis. The opacity has fueled rampant speculation in Washington political circles and on social media.

Some Republican allies, including Senate Majority Leader John Thune and commentator Scott Jennings, have said they've spoken with McConnell recently and described his voice as strong. Still, the lack of detailed medical disclosures stands in contrast to the public nature of the emergency response now coming into view. Others mocked it as covering up for 'weekend at Mitch's.'

I spoke to McConnell for about 20 minutes this morning.

He said we should end the war with Iran, quit giving aid to Israel, stop spying on Americans without a warrant, and he’s really sorry about how my primary turned out.

— Thomas Massie (@RepThomasMassie) July 7, 2026

The incident marks the latest health scare for McConnell, who has a well-documented history of falls, concussions and other episodes. As a towering figure in Senate Republican politics for decades, his extended absence continues to ripple through the chamber and the broader party.

BREAKING NEWS: Sen. Mitch McConnell appearing to have another scary episode in the media gaggle in Covington today. Aides had to step in to help him out and repeat questions. He was eventually lead away. We'll have the full video on @WLWT pic.twitter.com/q9ex5MHxLV

— Hannah Thomas (@HannahPThomas) August 30, 2023

McConnell's office declined to comment on the new video or audio.

This story is developing.

Tyler Durden Fri, 07/10/2026 - 11:45

For all your hosting needs.

Everyone loves a nice ice cream treat on a hot summer day. But for one golfer, an ice cream cone became more than just a treat – it may have become a good luck charm. 

We're told that while revelers nursed hangovers the next morning, village authorities are surveying the damage to the local wildlife.

We're told that while revelers nursed hangovers the next morning, village authorities are surveying the damage to the local wildlife.

Black-and-white dashcam footage released by the Kendall County Sheriff’s Office shows the teen walking towards the unseen officers holding a gun in his left hand and dragging a shirt in his right.

You'll wonder how you lived without them.

Arnold faces up to life in prison for his alleged crimes.

The actress' 94-year-old mother died on the Fourth of July "with dignity," a week after she received her lung cancer diagnosis.

The actress' 94-year-old mother died on the Fourth of July "with dignity," a week after she received her lung cancer diagnosis.

Former Homeland Security Secretary Kristi Noem has begun the process of divorcing her husband Bryon following bombshell revelations earlier this year that he engaged in a lurid secret life.

While concierge medicine services offer high tech, physician-led health monitoring and optimizing, some looking to get in on it cheaply and easily often take a DIY approach.

RFK Jr. Plans To Create A List Of Injuries Caused By COVID-19 Vaccines

Authored by Zachary Stieber via The Epoch Times,

Health officials are proposing a plan to clarify which COVID-19 vaccine side effects would be eligible for government financial compensation, according to a new notice.

Health Secretary Robert F. Kennedy Jr. in Minneapolis on May 21, 2026. David Berding/Getty Images

The Department of Health and Human Services (HHS) and one of its divisions said in a description of a proposed rule released on July 1 that they plan to establish an injury table for COVID-19 vaccines through the Countermeasures Injury Compensation Program (CICP).

"The Table will list and explain injuries that, based on compelling, reliable, valid, medical, and scientific evidence, are presumed to be caused by covered COVID-19 countermeasures, and set forth the time periods in which the onset of these injuries must occur after the administration or use of these covered COVID-19 countermeasures," a summary of the rule, which has not been made public, stated.

COVID-19 vaccines fall under the CICP because previous health secretaries declared and extended emergency declarations for COVID-19, which opened up the option of emergency clearance of vaccines and other countermeasures under the Public Readiness and Emergency Preparedness Act.

Health Secretary Robert F. Kennedy Jr., who just announced that he was ending the emergency declaration, is authorized under the declarations to provide benefits to people injured by the vaccines under the act, HHS officials noted in the proposal summary.

"Under the leadership of Secretary Kennedy, HHS is restoring transparency and accountability because the American people deserve clear, evidence-based information about both the benefits and the known risks associated with medical countermeasures," an HHS spokesperson told The Epoch Times in an email.

The spokesperson said that more information will be available when the notice is published in the Federal Register.

Aaron Siri, Kennedy's former lawyer, wrote to Kennedy in 2025, urging him to create a COVID-19 vaccine-injury table. He pointed to the readiness and preparedness law, which states that the health secretary "shall by regulation establish a table identifying covered injuries that shall be presumed to be directly caused by the administration or use of a covered countermeasure."

An injury table would help people injured by vaccines apply successfully to the congressionally created program, which requires "compelling, reliable, valid, medical, and scientific evidence" that an injury was a direct result of a countermeasure, Siri wrote on behalf of the Informed Consent Action Network, which advocates for government transparency and change.

"A well-constructed injury table is needed for the CICP," Richard Hughes IV, a former Moderna executive who is representing health groups in litigation against the administration that has halted some of its changes to vaccine guidance, told The Epoch Times in an email. "The real question is whether this administration would promulgate such a table or weaponize it to further platform misinformation."

Dr. Joel Wallskog, who suffered the neurological disorder transverse myelitis and other issues from COVID-19 vaccination and has sued the government over the CICP, told The Epoch Times in an email that the HHS proposal "is more appearance than substance."

"It appears to do little more than streamline the process for the relatively small number of individuals whose injuries - primarily anaphylaxis and myocarditis/pericarditis - are already recognized under the current system," added Wallskog, also the co-chair of the React19 nonprofit, which offers support to people injured by COVID-19 vaccines. "For everyone else who has been denied, nothing changes."

Erica Samp, who says she was injured by a COVID-19 vaccine, said in a post on X that she supported the plan but that she's watching to see what details are included, including the covered injuries.

The CICP is both administered and adjudicated by HHS officials. It has compensated some people who have said COVID-19 vaccination caused health issues, but rejected others, including people such as Wallskog, whom doctors diagnosed as being injured by COVID-19 vaccines, The Epoch Times previously reported.

The CICP has, through June, compensated 60 COVID-19 vaccine injury claims, nearly all for myocarditis, a form of heart inflammation. The average compensation has been $4,000, aside from a few large payments, and about 99 percent of applications have been rejected.

The National Academies of Sciences, Engineering, and Medicine said in 2024 that COVID-19 vaccines definitely cause myocarditis and shoulder injuries, but that other possible harms could not be conclusively linked to the shots.

Some outside organizations, such as React19, have said that the available evidence supports a link between the vaccines and additional problems.

Tyler Durden Fri, 07/10/2026 - 11:25

A jury finally convicted alleged killer Larry Millete of the murder of his wife, Maya, in a Chula Vista court Thursday after a saga of evidence over the last two months revealing domestic abuse, infidelity, and fear.