EWY: South Korea ETF Plunges - Why More Downside Is Likely (Rating Downgrade)

iShares MSCI South Korea ETF is downgraded to sell after a sharp 10% drop driven by AI profit-taking comments. EWY is highly concentrated, with SK Hynix and Samsung comprising 52% of the portfolio, amplifying volatility and risk. Despite a low 7.6x P/E, surging EPS estimates and extreme momentum signal peak earnings and potential downside ahead.