Foreign stocks showered money, jumped 32229 percent in two weeks
32229 percent return
AMTD Digital’s stock has soared 32,229 percent since its IPO in mid-July. The Hong Kong-based tech firm is on the New York Stock Exchange and its IPO price was $7.80 per share, helping it raise $125 million. On Tuesday, the stock touched a high of $2,521.72. This increased its market value to over $385 billion.
thanks to the investors
In a statement on Monday, AMTD Digital thanked its investors for its successful IPO, which closed more than two weeks ago. AMTD Global Markets Limited is a subsidiary of AMTD Idea Group, the parent company of AMTD Digital. Shares of Chinese financial company AMTD Idea Group rose over 500 percent in Tuesday’s trade. AMTD Idea Group held 97.1% of the outstanding shares of AMTD Digital as of July 15.
1.9 crore in the stock market
AMTD has 1.9 crore shares in the market. This means that when there is a high demand for a stock, and sellers are short, the price of the stock goes vertical. Some of that purchase is conducted by retail traders. AMTD Idea Group was the most traded stock in its client base on Tuesday, according to data from US financial services company Fidelity.
What is the advice of experts
However, experts have advised investors that due to such a rise in this stock, investors should stay away from it. The company’s stock is suspected of having a bubble. A bubble is a bubble that can burst at any time and cause losses to investors. Its market capitalization exceeds that of Walmart, Disney, and McDonald’s. It became the 14th largest company in the world.
what is business
AMTD Digital is a financial services startup that trades on the New York Stock Exchange under the ticker symbol “HKD”. The company is a unit of AMTD Idea Group (AMTD), an investment bank based in Hong Kong and also listed in New York and Singapore. It was founded in 2019, and provides fintech services in Asia, including a virtual bank called Airstar. AMTD Digital made just a little over $25 million last year. Yet this week its market cap exceeded $310 billion. Curiously, the company was also scratching its head at this sudden surge. That is, it also does not know about this speed.