SpaceX and SK Hynix lead historic year for global IPOs

The initial public offering (IPO) market has reached historic levels, led by SpaceX and SK Hynix. SpaceX achieved the largest IPO ever, raising over $80 billion and surpassing the previous record held by Saudi Aramco. SK Hynix set a record for the largest IPO by a non-US company on the Nasdaq, raising approximately $26.5 billion.

Despite the landmark listing, SK Hynix has faced significant volatility. After its debut, shares fell more than 50% from their post-listing peak due to memory-sector weakness, AI-related profit-taking, and a Q2 earnings report that, while showing record profits, failed to meet analyst expectations. The stock has recently traded below its $149 IPO price.

However, Wall Street analysts remain optimistic. Some price targets for SK Hynix exceed $320, suggesting potential returns of over 160%. Meanwhile, US IPO activity continues to surge, with Goldman Sachs predicting that total US IPO volume could exceed $200 billion this year.