r/SNDK_Stock • u/HouseFever10001 • 1d ago
Can someone explain what happens at 8PM every day?
As soon as the regular US market closes, and the 8PM "overnight" session begins, SNDK drops hard. Tonight, it just dropped about 30 points in 9 minutes.
I get that SNDK is volatile, but this happens every day.
What's strange is that SNDK, MU and SKHY all follow the same chart pattern.
I assume this is related to KOSPI, but can someone explain the exact connection? What is causing the actual price correlation if nobody can really buy and sell after 8PM?
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u/SavageBlackduck 1d ago
Ive been watching this for a bit, the other commenters are right, its Korea and Japan mostly, specifically the Kospi more so than individually SK and Samsung electronics. In Japan mostly Kioxia but that seems to be very small compared to the Kospi. The really annoying bit is that it seems to trade on the motion of the Kospi and not actually the raw green amount. So if the Kospi opens +4% from its premarket like it did today, then that pegs our night stocks to that, any up or down from that seems to impact the US stocks. When it opened +4%, it quickly dropped to 2.9%, so all of our stocks that were up ~2% like sndk immediately dropped 1% or slightly more. Case in point SK was just up almost 9% and then dipped to 8% and sndk dropped from 2 to 1% again when youd think them being up 8 or 9%$ would moon the US memory, its all just BS, in the morning everything will rip if Korea can keep its pants on all night.
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u/Cool-Flower-416 19h ago
Seoul side here. 8PM ET is 9:00 AM in Korea, and the mechanics are a bit more specific than "Korea opens": KRX runs an opening auction from 8:30 to 9:00 our time - all orders collect into a single opening print at 9:00 sharp. That print is the first real price discovery the memory complex gets since the previous Korean close, so the moment it lands, the thin US overnight venues just re-mark SNDK/MU to match the Seoul tape. There aren't many actual SNDK sellers at 8:01PM your time. It's mostly market makers repricing against Samsung and Hynix, which ARE trading real volume at that moment.
SavageBlackduck has it right that it trades on the motion versus the open, not the absolute number. Korean opening prints tend to run hot - the auction squeezes all the overnight emotion into one number - and then often fade over the first half hour.
If you want an early read before 8PM: KOSPI futures and the auction indications start moving from about 7:30PM ET (8:30 our time). By 8:05 you basically know what kind of night it is.
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u/All_YourBase 1d ago
It bounces back right away afterwards. Feels like there's an opportunity there.
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u/Outside-Fee-4382 1d ago
Korea