Micron shares slip as SK Hynix debuts in US trading
MU•Micron falls while SK Hynix opens above offer price
Micron shares fell 2% to $971.41 after peer SK Hynix made its U.S. trading debut.
SK Hynix's U.S.-listed shares opened 14% above the offering price, with ADRs starting at $170 compared with the $149 offer price. That opening price was also about 2.7% above SK Hynix's average share price over the last three trading days in Seoul.
Ten ADRs are equivalent to one common share.
Micron stock had risen more than 247% year to date before the latest decline.
