According to CNBC’s ranking of America’s Top States for Business, Ohio is No. 1, due to its robust infrastructure and low business costs, while Hawaii ranks last on the list. Arkansas won the award for most improved, jumping 13 spots in the rankings.
The S&P 500, Nasdaq 100, and Russell 2000 rose yesterday as chip stocks climbed, with investors rotating into information technology and out of energy and defensive sectors.
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SK Hynix makes its American debut |
SK Hynix is one of the largest players in the semiconductor boom, but so far hasn’t had direct exposure to the American investors who have largely fueled it. That changes today when it lists on the Nasdaq.
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- The company makes the High Bandwidth Memory chips that are key ingredients in the Nvidia GPUs that have fueled the AI boom, as well as the DRAM memory chips that have spiked in price and the NAND flash storage chips that have also been in demand.
- It competes primarily with fellow South Korean conglomerate Samsung and American retail investor darling Micron.
- The stock is up more than 280% this year and the market cap for the firm is now over $1 trillion, but you haven’t heard it rattled off among the likes of the Magnificent Seven in no small part because it has been difficult for some foreign investors to access — well, at least until the launch of the Roundhill Memory ETF.
- The $24.5 billion offering will give SK Hynix a whole lot of dry powder to keep up with the ravenous demand for its semiconductors.
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According to Bloomberg, the US listing is more than seven times oversubscribed, showing that investors are keen to get in on the listing for the second-most valuable company in Korea.
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Companies on the Korean Stock Exchange tend to trade at a bit of a discount compared to their counterparts on American exchanges, so SK Hynix is likely hoping that an international debut is the recipe to juice its valuation toward the multiple its US counterpart enjoys.
The South Korean government is leading an $880 billion investment into the Korean AI industry, with SK Hynix and archrival Samsung both increasing investment in the country.
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Caitlin Clark has become a lightning rod for just about every WNBA debate imaginable lately — from members of Congress threatening to step in over her treatment by opposing players to Candace Parker blasting the league’s players for ranking her just 11th among guards in All-Star voting. But here’s the funny part about that second controversy: the players actually matched performance-based metrics much better than the fans did overall. When each group's positional rankings were compared to those generated via players’ game stats, both the players and media had a correlation of 0.44, versus just 0.28 for the fans.
In other words, the voting patterns don’t support the idea that WNBA players were detached from reality — if anything, they were most honest about Clark, and no less accurate relative to the stats than any other group.
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- ⚽️ Spain vs. Belgium: Spain entered this tournament a favorite and, after a decisive win against Portugal, enters this game a favorite too, with a 75% chance* of beating a Belgian team fresh off a win against the hosts.
- ⚽️ Norway vs. England: Saturday’s first game is a match between an English team that just sent Mexico on a (very short) trip home and a Norwegian squad that has the tournament breakout player in Erling Haaland. The market gives England the edge, with a 65% chance of winning.
- ⚽️ Argentina vs. Switzerland: Argentina may have entered this tournament fifth-ranked in the world, but they have been the scariest squad on the pitch and enter this game with a 75% chance of beating Switzerland.
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*Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.
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- Premarket earnings expected from Delta
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