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Why SK Hynix Stock Skyrocketed This Week

TheMotleyFool

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Why SK Hynix Stock Skyrocketed This Week: https://g.foolcdn.com/editorial/images/883425/gettyimages-1271085883.jpg

SK Hynix (NASDAQ: SKHY) stock enjoyed a strong rally this week, with its share price rising 20.6% across the stretch. The S 500 rose 1.2% over the period, and the Nasdaq Composite gained 1.7%.

SK Hynix's share price moved higher due to news that Singapore's sovereign wealth fund was poised to invest in the company and a new market share report from Counterpoint Research. Bullish momentum for the broader South Korean stock market also helped to lift the stock.

Image source: Getty Images.

Source Fool.com

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