Dramatic news!
Pay attention to the information we reported in real-time on our Premium channel!
Korean media reports that the chairman of SK Hynix made an insider purchase of nearly $500,000.
Our check with several Korean analysts confirms these reports, and there's also an amazing plot twist.
According to the data we received, this is the chairman's first ever insider purchase.
Moreover, until today he actually held no shares at all, and this is the first time he has become a shareholder in the company.
And that's not all, according to the reports we received from analysts in Korea, it seems the purchase amount is not random.
Pay attention to the data below:
This is the largest purchase that can be made without being required to pre-announce a trading plan.
The reason for this is related to South Korean regulation. According to local capital market law, directors and controlling shareholders must give at least 30 days' prior notice if they plan to buy or sell shares worth 50 million won or more, or more than 1% of the company's shares.
It appears the purchase was planned to remain slightly below the threshold requiring prior disclosure, allowing it to be executed immediately while fully complying with legal requirements.
Which, of course, makes us wonder...
What's the chairman's hurry?
Did he identify a bottom?
Look what happened to the stock.
$SKHY stock traded down in pre-market.
But at around 13:03, the price suddenly jumped, and has since risen by more than 3%.
This is exactly when the news was published in the Korean media.
Just minutes after the publication, the news was already up on our Premium channel thanks to our connections with Korean analysts!
Note: This purchase has not yet been updated with US authorities, only in the Korean media!
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We are monitoring.