Is this a joke? If it is not, it is plenty more evidence that we are living in one of Elon Musk's simulations. When AMTD Digital (HKD) went public on.
The author makes no representations as to the accuracy, completeness, or suitability of this information. The author will not be held responsible for information that is found at the end of links posted on this page. The author has not received compensation for writing this article, other than from FXStreet. It also does not guarantee that this information is of a timely nature. This is surprising as its parent company also trades on the NYSE and has a market cap of roughly $4 billion. With 185 million shares outstanding, the average number of daily shares traded is 1.28 million for AMTD Digital. However, presumably, most of those shares are held in Hong Kong. The actual float is just 19.05 million, meaning that on average about 6.7% of shares are trading. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. This is fairly high and is likely an ingredient in the price action. "To our knowledge, there are no material circumstances, events nor other matters relating to our Company’s business and operating activities since the IPO date." The firm also specializes in brokering insurance products to corporate clients and advising on strategic private equity investments. The company sits in Hong Kong, so the bullish nature of the price action stands in stark contrast to most other Chinese equities that are selling off on Tuesday due to worries over US politician Nancy Pelosi visiting Taiwan. Some individuals with close ties to Chinese leadership and the Chinese Communist Party have threatened military action against Pelosi, and at least four US warships are stationed near Taiwan. Is this a joke?
The U.S.-listed shares of Hong Kong-based investment holding company AMTD IDEA Group undefined skyrocketed 312.5% and subsidiary AMTD Digital Inc. undefined ...
The U.S.-listed shares of Hong Kong-based investment holding company AMTD IDEA Group AMTD,+236.54%skyrocketed 312.5% and subsidiary AMTD Digital Inc. HKD,+126.28%, a Hong-Kong-based digital solutions applications developer, rocketed 149.6% in very volatile afternoon trading Tuesday, enough to make them the two best performers listed on the New York Stock Exchange. AMTD IDEA shares have been halted once for volatility since the open, while AMTD Digital's stock has been halted 18 times. The company said it was also "monitoring the market closely for any unusual trading activities or abnormalities." AMTD Digital's market capitalization has ballooned to $342.64 billion, making it more valuable than 489 of the S&P 500's SPX,-0.67%components. The company issued Tuesday a " Thank you note" to investors and a response to the "significant volatility" in the stock since the IPO. "To our knowledge, there are no material circumstances, events nor other matters relating to our company's business and operating activities since the IPO date," AMTD Digital said in a statement.
AMTD International (NYSE: AMTD) or, AMTD Idea Group, stock has jumped 240% this morning premarket. This is off the back of the performance of the IPO of the ...
The other is that AMTD Digital is a business accelerator with a lot of backing from the right sort of people. In one sense AMTD Ideas soaring off the AMTD Digital IPO is obvious. “AMTD IDEA Group is expected to own 88.7% of the issued and outstanding shares, and 99.4% of the total voting power in AMTD Digital immediately following the completion of the initial public offering.” Yes, that'll do it. That is indeed a possible way to think of it. There are two different ways to think of AMTD Digital. One is that it's a collection of the usual buzzwords including metaverse and so on and so this is a soar which will soon enough turn into a dive. The driver here really is that HKD stock price.
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 is a subsidiary of AMTD Idea, and HKD stock is seen by some as a metaverse play. AMTD stock has soared since its debut.
On the date of publication, Larry Ramer held no positions in any companies mentioned in this article. The firm added that it is “monitoring the market closely for any unusual trading activities or abnormalities.” InvestorPlace contributor Dana Blankenhorn reported that SpiderNet seeks “to connect all AMTD’s financial operations and intellectual property into a controlled digital ecosystem.”
Shares of little-known Hong Kong IPO AMTD Digital are currently trading above $2,500, despite IPO'ing on July 15th at $7.80. What?
Apart from the corners of FinTwit and Wallstreetbets, AMTD Digital is relatively unknown. Ride the waves of market momentum with two actionable trade ideas designed to capture technical break outs and break downs — delivered to your inbox every week. TryRebel Weekly . Ride the waves of market momentum with two actionable trade ideas designed to capture technical break outs and break downs — delivered to your inbox every week.. AMTD Digital is a Hong Kong based investment banking company that has created a digital platform called “ AMTD SpiderNet”. AMTD calls SpiderNet a “metaverse” ecosystem and currently it’s mostly used by fintech start-ups and internet influencers. Let’s get a little more information about the stock before we make that judgment. This stock just IPO’d, is based in a foreign country, and has run 30,000% in two weeks on very low volume.
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.
AMTD Digital Inc - ADR (NYSE: HKD) shares are up more than 100% Tuesday, but that pales in comparison to the more than 30000% surge in the stock since its ...
"During the period since our initial public offering, the Company noted significant volatility in our ADS price and, also observed some very active trading volume. However, the stock has been trending across social media platforms since the end of last week, suggesting that the rally may be driven by outsized retail demand. AMTD Digital Inc - ADR HKD shares are up more than 100% Tuesday, but that pales in comparison to the more than 30,000% surge in the stock since its IPO in mid-July.
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 ...
Well, if you are lucky enough to get a piece of AMTD Digital, a US-listed Chinese Fintech initial public offering rather unknown in the investment world but ...
The company cannot come up with an explanation either. No one exactly comes up with a good reason how AMTD Digital could sustain a price-earning ratio of over 5,000 times. AMTD Digital closed at US$1,679 Tuesday, up 214 times from its humble debut price on 15 July when it was first listed.
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.
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 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.
Short answer - no one knows. It's the latest Meme stock.
This particular meme always starts with the words, “One does not simply…” at the top, and usually something humorous at the end, implying that whatever the person is trying to do is complex, or un-doable. These situations are not what we consider to be an investment but are short term momentum trades, meaning that the stocks are not moving due to changes in the underlying fundamental value of the company but are based on technical indicators. Which is why – laughing at him is funny, and that is partly why the meme took off. A meme (pronounced MEEM, though some say Me-Me) is a part of the language of the internet. -Many traders of these stocks claim to have diamond hands, meaning they intend to hold onto the stock no matter what. The original image is from the movie The Lord of the Rings: The Fellowship of the Ring. In this scene, the protagonist Frodo Baggins has reached the home of the elf Lord Elrond with the One Ring. Elrond calls a council to decide what is to be done with the ring, which can only be destroyed by the fires of Mount Doom, where it was forged. But once the upward momentum runs out and stocks start to turn down. Part of the reason Meme stocks such as these have arisen in the first place is FOMO, or fear of missing out, which is fuelled by too many people touting about how much money they are making on these trades. FOMO is one of the main drivers of investor buying. The term is generally regarded with a negative connotation, sometimes contributing to a person’s indecisiveness or overcommitting to obligations,” Morningstar Canada’s director of investment research Ian Tam explains. A meme stock is a pure child of the 2020s. To our knowledge, there are no material circumstances, events nor other matters relating to our Company’s business and operating activities since the IPO date.”
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 ...
Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com
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.
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.
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.
The AMTD Digital stock has shot the lights out since it's IPO in July. But why? Short answer - no one knows. It's the latest Meme stock.
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 ...
Article content Article content Article content