Cramer Says Micron Stock Does Whatever SK Hynix Does in Korea, and He Dislikes It

CNBC host Jim Cramer says Micron Technology (MU) trades in step with SK Hynix, and he dislikes it. The comment arrived just before the South Korean chipmaker posted record quarterly earnings. That leaves Micron shareholders exposed to Seoul trading, even though the company is based in the US. Cramer called the setup unfortunate. Why Does a US Memory Stock Follow Seoul? A viewer asked Cramer on Mad Money whether volatile Micron suits a long-term hold or options straddles. Cramer answered that Micron moves with SK Hynix’s trading in Korea. “I’m hoping the linkage ends one day, but it hasn’t yet.” Jim Cramer, MadMoney The pattern held on Oct. 13. SK Hynix closed 10.09% lower in Seoul, SBS reported, and Micron’s US shares then sank about 5%.

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