[Special Stock] SK Innovation, Up 16% in a Week, Drops Over 6%

SK Innovation, whose stock price had been on an upward trajectory recently, experienced a sharp decline on July 2.

As of 10:33 a.m. on July 2, SK Innovation was trading at 118,000 won, down 8,400 won (6.64%) from the previous trading day. During the session, the share price at one point plunged by 9.09% to 115,000 won.

SK Innovation's stock price had surged by 16.83% over the past week. The decline on this day is attributed to two factors: first, investor sentiment in related stocks weakened after U.S. electric vehicle maker Tesla's share price fell by 5.3% overnight; second, some investors moved to realize profits.

At the same time, other battery-related stocks such as Samsung SDI (-0.95%) and LG Energy Solution (-0.34%) were also trading lower.