(https://www.marketwatch.com/story/sk-hynix-nasdaq-listing-may-become-the-second-largest-equity-offering-ever-trailing-only-spacexs-8dca5afa?mod=mw_rss_topstories) becoming the second-largest equity offering ever is not a bullish signal—it's a confession. The industry doesn't need this much capital for incremental demand growth.

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