HKD stock

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.

The HKD IPO is making headlines for its skyrocketing share price since making its stock market debut in July.

But one thing is for sure, AMTD Digital stock has a lot of upside potential as the company continues to grow within Southeast Asia. The stock market is facing major volatility due to geopolitical pressure, high inflation and recession fears. This is just another reason why you may want to watch HKD stock for the foreseeable future. The metaverse industry may be a stock market darling for years to come. The HKD IPO raised $124.8 million to minimal media coverage and it hit the market in mid-July for $7.80. The HKD stock price more than doubled in the first day. Yet, HKD stock is surging and investors are reaping the rewards.