Ellis, a company specializing in artificial intelligence (AI) infrastructure, has seen its shares rise by more than 12%. This increase follows a rebound in major tech stocks on the New York Stock Exchange, easing some concerns about AI investments.
As of 1:30 PM on the 27th, Ellis shares were trading at 86,500 won, up 9,800 won (12.78%) from the previous trading day, according to the Korea Exchange.
Since its debut on the KOSDAQ market on the 20th, Ellis has experienced significant fluctuations in its stock price. On its first day of trading, concerns over a decline in the valuation of U.S. cloud company CoreWeave led to a drop in AI infrastructure investment sentiment, causing shares to close in the low 60,000 won range, well below the initial public offering price of 90,500 won.
However, as fears surrounding AI investments eased, the stock price rebounded. On the 21st, shares surged by 29.92%, continuing to rise on the 22nd and surpassing the IPO price.
Nevertheless, the previous day saw a decline of over 18% as profit-taking occurred following the short-term surge. Today, the stock has rebounded again, recording double-digit gains.
The strong performance of major semiconductor stocks such as Broadcom, AMD, and NVIDIA on the New York Stock Exchange has likely contributed to the recovery in investor sentiment. Additionally, news of U.S. AI company Anthropic's plans for an initial public offering has renewed optimism for tech stocks related to AI.
* This article has been translated by AI.
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