SK Hynix Trader Turns $2.26M Loss Into $6.44M Profit on Earnings Spike
On-chain analytics platform Lookonchain tracked a whale that turned a multi-million-dollar loss into a $6.44 million profit in the days leading up to and following the Korean chipmaker's earnings.
SK Hynix's stock had been facing a prolonged and substantial downturn as appetite cooled for AI infrastructure companies. However, an impressive earnings result turned things around quickly.
A Rocky Three-Day Trade
Wallet 0xC8b5 opened a 3x leveraged long on 37,229 units of SKHX on July 29. SKHX is a Hyperliquid perpetual contract that tracks SK Hynix's share price rather than the stock itself. The $37.3 million position briefly showed a $778,000 gain, per Lookonchain.
That gain evaporated fast. A day later, the position's value fell to $34.28 million. The wallet then faced a $2.26 million unrealized loss, according to a follow-up post. Lookonchain noted the trader had lost more than $1 million on each of the previous three trades. That pattern pointed to another costly bet.
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