32m ago
SK Hynix Shares Briefly Drop 30% on Nextrade for Second Time in Two Weeks
SK Hynix shares briefly plunged 30% on South Korea’s alternative exchange Nextrade, marking the second similar flash-crash in two weeks. A July 28 drop previously triggered about $60 million in liquidations in Hyperliquid perpetual contracts. The latest incident again highlights vulnerabilities in the systems linking traditional equity markets with crypto derivatives, raising fresh concerns about the reliability of crypto oracle data.
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32m ago
2h ago
AppLovin CEO says Q2 revenue shortfall was ‘timing’ issue as company guides Q3 revenue of $2.055 billion-$2.085 billion
AppLovin reported second-quarter revenue of $1.92 billion, up 53% year over year, but slightly below analyst estimates of $1.935 billion, weighing on the stock. The company forecast third-quarter revenue of $2.055 billion to $2.085 billion, roughly in line with or slightly above Wall Street expectations of $2.068 billion. Consumer advertising spending hit a record level, while APP shares are down 38.00% year-to-date and fell 16.95% in overnight trading, according to Benzinga.
2h ago
2h ago
AI-linked selloff sends Kospi down 22% and Nikkei 225 down 8%, driving a record 15.2% July drawdown for Asian hedge funds
A July selloff in AI-related stocks dragged major Asian benchmarks including South Korea’s Kospi and Japan’s Nikkei sharply lower, pushing Asia-focused equity hedge funds into an average 15.2% drawdown, the steepest on record. Some of the region’s largest multistrategy platforms posted monthly losses of 3% to 9%, according to Reuters. Hong Kong-based Polymer Capital Management lost 6.9% for the month.
2h ago