Superconductor Stock Frenzy Fizzles in Korea Amid Growing Doubts
- Experts seek to verify claim about potential breakthrough
- Korea Exchange suspends trading in Sunam after recent jump
This article is for subscribers only.
Stocks that soared recently in South Korea on researchers’ claim of a breakthrough in superconductor technology tanked Friday as experts sought proof while the local exchange escalated its warning on the trading frenzy.
Mobiis Co. tumbled by a daily record of 30% while Duksung Co. slid 17% as Korea Exchange escalated its warning level on the “abnormal surge” in the two stocks. The bourse suspended trading in Sunam Co. for one day after it surged nearly 280% over the previous eight sessions.