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MXene-themed stocks spike in latest investor gold-rush

Published: 21 Aug. 2023, 18:11

SHIN HA-NEE
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An image of a washable flexible transparent OLED panel developed by a KAIST research team using MXene, a two-dimensional nanomaterial, published on the front cover of the ACS Nano journal issued on June 13. [ACS PUBLICATIONS]

MXene, a so-called “dream material” with high conductivity, replaced room-temperature superconductors in the stock market as the latest hype pushed up share prices on Monday.

MXene is a new two-dimensional nanomaterial first developed in 2011, known for its high conductivity and electromagnetic shielding properties. Consisting of alternating carbon and metal layers, MXene can be mixed with various other metals for use in producing advanced semiconductors, electronic devices and sensors.

The promising new material recently came into the limelight after the Korea Institute of Science and Technology (KIST) issued a release on Thursday about its research on new scientific measures to predict MXene's properties using a software program.

The study by the KIST research team was published in Nanoscale, an academic journal, in June 2023.

The program analyzes molecules attached to the surface of MXene to help increase the material's electrical conductivity, a process that previously took days, making it impossible to produce MXene on a commercial scale.

With expectations growing that MXene's mass production could become reality, investors have flocked to the market to seek MXene-themed stocks since Thursday, as the previous hype surrounding the room-temperature superconductor claims dwindles.

The share price of Huvis, a Kospi-listed fabric manufacturing company, hit the roof on Monday, climbing 29.94 percent from the previous trading day to 8,420 won.

The Huvis stock previously hit its cap on Friday, increasing 29.99 percent.

Huvis is considered an MXene-themed stock because the company has patent rights to production technology for MXene-related polymeric nanocomposites.

Kornic Automation, a Kosdaq-listed software company, spiked 29.87 percent to close at 6,000 won on Monday after its share price rose 20.92 percent and 29.96 percent on Thursday and Friday. Choi Kyung-cheol, a professor of electrical engineering at KAIST, is an external board member at Kornic Automation and led a research team that developed a transparent and flexible organic light-emitting diode (OLED) display using MXene.

Naintech rose 29.80 percent to 6,250 won, and Kyundong Invest increased 29.97 percent to 131,300 won.

A similar rally occurred when a group of Korean scientists claimed that they have developed the world’s first room-temperature, ambient-pressure superconductor in late July.

Shinsung Delta Tech, which was actively traded in the market after the papers were made public, plunged 29.88 percent to 42,000 won on Monday amid mounting scientific evidence rebutting the superconductor claims.

The local regulators are keeping an eye on such short-lived hypes in the market, which are pushing the stock prices to extreme ups and downs.

“We will restore investor confidence in the market by managing the excessive tilt toward certain theme stocks” by tightening the monitoring system and improving the mandatory disclosure system, Kim So-young, vice chairman of the Financial Services Commission, said during a press conference on Friday, addressing the recent overheating of certain theme stocks.

BY SHIN HA-NEE [[email protected]]