AMTD Digital

AMTD Digital is a Chinese tech firm with a market valuation of more than $385 billion. Its parent company, AMTD Idea Group, soared more than 500% in Tuesday ...

AMTD Idea Group owned 97.1% of AMTD Digital's outstanding shares as of July 15, according to a Securities and Exchange Commission filing. AMTD Digital has a low share float of just 19 million shares. In a statement on Monday, AMTD Digital thanked its investors for the successful completion of its IPO, which closed more than two weeks ago. That means when there's overwhelming demand for the stock, and there are few sellers, the stock price goes vertical. The underwriters can then book an immediate gain by selling the shares in the open market, assuming its stock price doesn't drop 99% from current levels between now and August 15. The Hong Kong tech firm trades on the New York Stock Exchange and priced its IPO at $7.80 a share, which helped it raise $125 million in proceeds.

AMTD Digital (NYSE:HKD) showed again that is the latest meme stock poster child as the Hong Kong-based developer of digital entertainment platforms watched ...

AMTD ( HKD) said that with regards to why its shares have performed so wildly since it went public. Since going public less than three weeks ago, AMTD ( HKD) shares have soared by...wait for it...15,060%, and were at $1,800 a piece in Tuesday's trading session. Tuesday's gains came on the heels of an 85% rise on Monday, a 122% gain last Friday and a rise of almost 135% last Thursday.

AMTD Digital stock traded under ticker HKD is up more than 21000% since its July 15 IPO. It's one of the newest meme stocks since GameStop.

Wall Street was forced to take notice, and companies like VandaTrack started collecting data to analyze where the retail crowd was putting their money. That price increase would for Wall Street investors to have to buy stock to cover their short positions, which further bolstered the stock’s price and made the retail investors profit as hedge funds lost money. Online investors doubled down on their bets, and trading became extremely volatile with wide swings from hour to hour. During the pandemic, his musings garnered more and more attention from these new, bored, stuck-at-home investors and by 2021, a revolution in trading had begun. So having another commercial lab test for monkeypox could be a gamechanger, hence why the stock surged on Tuesday. If validated it will submit its test for approval to the New York State Department of Health.

Hong Kong-based financial services provider AMTD Idea Group surged as much as 520% Tuesday, triggering multiple trading halts, as small-time traders piled ...

That’s bigger than Exxon Mobil Corp. and Walmart Inc., and comes from a company that reported $25 million in revenue last year. Hong Kong-based financial services provider AMTD Idea Group surged as much as 520% Tuesday, triggering multiple trading halts, as small-time traders piled into the latest retail craze.

The shares are currently up 143% today. AMTD's financials are uninspiring and cannot justify the share price ramp. No sane valuation assumption can justify ...

At one point, AMTD Digital rose to over $2,500 per share – a more than 30,000 percent increase – resulting in a market capitalization of $400 billion that ...

It is also one of the shareholders of Hong Kong-licensed virtual bank Airstar Bank, alongside Chinese mobile giant Xiaomi. At one point, AMTD Digital rose to over $2,500 per share – a more than 30,000 percent increase – resulting in a market capitalization of $400 billion that surpassed corporate behemoths like Walmart or Exxon Mobil, despite reported annual revenue of just $25 million last year. On July 15, AMTD Digital listed its American depositary shares (ADS) on the New York Stock Exchange at $7.80 each and since then, the price has soared to inexplicable new heights.

A Singapore-based financial services group, which has expanded into the metaverse, has become one of the hottest stocks in the US.

He was a senior editor at The Nation for 17+ years and has a family in Bangkok. It says the idea behind the platform “is to connect all AMTD’s financial operations and intellectual property into a controlled digital ecosystem.” AMTD is backed by Li’s CK Hutchison and is focussed on Southeast Asia. It’s a fast-growing entity that’s putting together an effort to “disrupt traditional banking services across the region,” TechNode wrote in a July 6 article.

A little-known Hong Kong-based company appears to have become the latest obsession of traders on the popular Reddit forum WallStreetBets, helping its stock ...

Its parent company has also benefited from the mania. and AMC ( AMC) Since then, the price has jumped to $1,679.

A little-known Hong Kong-based fintech firm saw its shares skyrocket 21400% since its IPO in mid-July.

Indeed, the ticker HKD became the most popular mention on Reddit's WallStreetBets chat room Tuesday, according to alternative data provider Quiver Quantitative. AMTD Digital issued a "thank you note" to investors Tuesday, adding it's monitoring the market closely for any trading abnormalities. The little-known Hong Kong-based fintech company saw its shares skyrocket 126% on Tuesday alone after experiencing a series of trading halts.

Shares of AMTD Digital on Wednesday extended an eye-popping rally fueled by retail investors this week that briefly took the Hong Kong-based fintech's ...

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Convoluted ownership structure behind AMTD Digital points to Calvin Choi, an ex-UBS banker who's fighting an industry ban in Hong Kong.

Shares of AMTD Digital on Wednesday extended an eye-popping rally fueled by retail investors this week that briefly took the Hong Kong-based fintech's ...

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A little-known Asian fintech company that became the latest stock sensation, skyrocketing days after listing on the New York Stock Exchange, was recently ...

A little-known Asian fintech company that became the latest stock sensation, skyrocketing days after listing on the New York Stock Exchange, was recently falling Wednesday.\n\nAMTD Digital, a nearly three-year-old business controlled by a Hong Kong-based financial institution, went public on July 15 after selling 16 million American Depositary Shares at $7.80 apiece, for a total of $125 million in proceeds. It was recently down about 22%, at prices under $1,000 per share, on Wednesday morning, with trading again paused earlier in the session.\n\nAMTD Digital’s surge attracted individual investors on online forums such as Reddit’s WallStreetBets. In one trending post on Tuesday, hundreds discussed the company and the get-rich-quick opportunity it presented. On Tuesday, the shares—trading under the ticker HKD—closed at $1,679, after hitting a high of $2,555.30 earlier in the day.\n\nTrading was halted 18 times during the day due to the extreme volatility. Those underwriters include AMTD Global Markets, a subsidiary of AMTD Digital’s parent company, AMTD Idea Group.\n\nAMTD Idea’s own shares more than tripled on Tuesday to $7 apiece, and were up 1.2% in morning trading on Wednesday. AMTD Idea held 88.7% of AMTD Digital’s outstanding shares following the latter’s IPO, according to an SEC filing.\n\nNathan Anderson, a New York-based activist investor and the founder of Hindenburg Research, said the small number of AMTD Digital shares available for trading, coupled with strong retail interest, has helped fuel the trading frenzy.\n\n“When there’s a very thin number of shares available to trade, the stocks can be particularly volatile,” Mr. Anderson said. The company, which provides digital financial services to individuals and businesses in Asia, reported $24 million in net profit in the 10 months through the end of February 2022, according to its listing prospectus.\n\nIn a press release Tuesday, AMTD Digital thanked investors for the recent completion of its IPO. It acknowledged the “significant volatility” in its share price, and said it knows of no material circumstances or events that would have caused the unusual trading.\n\nThe company also noted that underwriters of its IPO can purchase an additional 2.4 million shares at the offering price before August 15, under what’s known as a greenshoe option.

Early investors in AMTD Digital Inc. have basically won the lottery, as the Hong Kong-based digital business developer's stock has zoomed 3165% higher over.

It has traded in an intraday range of up 26.1% to down 41.0%. Even with the day’s selloff, the company has still added $250.95 billion in market capitalization over the past seven days. On Tuesday, AMTD Digital issued a “thank you note” to investors, for the successful completion of its IPO. The company said it has noted “significant volatility” in the ADS price and “very active trading volume,” as the ADS trading was “still undergoing our initial stabilisation period” on the New York Stock Exchange (NYSE). AMTD IDEA shares rallied 1.7% in midday trading Wednesday, and have shot up 265.0% over the past seven days. Early investors in AMTD Digital Inc. have basically won the lottery, as the Hong Kong-based digital business developer’s stock has zoomed 3,165% higher over the past seven days. The stock HKD, -22.57%pulled back 16.6% in very volatile midday trading Wednesday — it has already been halted nine times for volatility— putting it on track to snap a six-day win streak.

Unknown company out of Hong Kong managed to join the ranks of the global megacaps worth around a half trillion dollars, trading under the ticker HKD.

Using a thank-you letter to its newly minted shareholders as opportunity, it claimed it, too, was baffled by the performance of its stock. AMTD Digital basically sells a kind of club membership to its “SpiderNet Ecosystems Solutions,” which claims to bring benefits by connecting businesses to each other. This has been an ongoing source of frustration for investors in many Chinese stocks. It also has another subsidiary, AMTD IDEA, listed on the New York Stock Exchange as well, though this is worth only $14 billion. A look at its website reveals little of its business model. Fortune sought to contact the company, but emails and calls were not immediately answered.

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A unit of Morgan Stanley invested in a funding round in 2019. Century City International Holdings Ltd., owned by members of Hong Kong’s real estate tycoon Lo family, holds a 5.8% stake in the firm. It’s a mystery why the stock has surged, though some analysts have pointed to its tiny public float. That means the firm — which develops digital businesses, including financial services — is worth more than Bank of America Corp., Morgan Stanley and Goldman Sachs Group Inc., despite reporting just $25 million in revenue for the year ended April 2021. AMTD Digital didn’t immediately reply to a request for comment. They’re since up more than 22,000% from the initial public offering price of $7.80.

Shares of under-the-radar Hong Kong fintech company AMTD Digital continued to swing wildly in volatile trading on Wednesday after a more than 21,000% run up ...

On Wednesday, AMTD Idea and AMTD Digital both saw volumes of around 80,000, compared with an average of 5.4 million and 1.1 million, respectively. Parent company AMTD Idea, meanwhile, is valued at just under $3 billion. AMTD Digital recorded just $25 million in revenue for 2021, according to regulatory filings, with most of that coming in the form of fees and commissions from its digital financial services business. What’s more, there was likely a short squeeze which is being followed by retail investors who are starting to catch on, Ahern adds. AMTD Digital and its parent company have also been trading at relatively low volumes which is unusual given their wild price fluctuations. Shares of under-the-radar Hong Kong fintech company AMTD Digital continued to swing wildly in volatile trading on Wednesday after a more than 21,000% run up since its IPO last month, and although it’s still unclear what’s sparking the wild price action, many are likening it to the meme-stock frenzy of early 2021.

SHANGHAI -- AMTD Digital, a little-known fintech company based in Hong Kong, has been skyrocketing since it went public in the U.S. just over two week.

With that number, the Hong Kong-based unit of investment holding company AMTD Idea Group overtook Alibaba, whose market cap came to $237.3 billion, as the No. 1 Chinese company listed in the U.S. AMTD Digital saw its market cap reach $310.6 billion on Tuesday, more than 100 times the level at its initial public offering on July 15. SHANGHAI -- AMTD Digital, a little-known fintech company based in Hong Kong, has been skyrocketing since it went public in the U.S. just over two weeks ago, surpassing Chinese e-commerce giant Alibaba Group in market capitalization.