The Hong Kong-based financial company has become the latest obsession of the 'WallStreetBets' Reddit community.
The Hong Kong-based financial company AMTD Digital has become the latest obsession of the "wallstreetbets" Reddit community, causing its stock to soar 14,000% in less than a month.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 shoot up 21,000% since its IPO less than a month ago.
Shares of AMTD Digital have spiked nearly 3,000% over the past week, and were up 126% on Tuesday alone. The company debuted on the New York Stock Exchange on July 15, listing its shares at $7.80 apiece. Since then, the price has jumped to $1,679. AMTD Digital is a financial services startup that trades on the New York Stock Exchange under ticker symbol "HKD." The company is an arm of AMTD Idea Group, an investment bank based in Hong Kong that is also listed in New York and Singapore. The unit was founded in 2019, and provides fintech services in Asia, including a virtual bank called Airstar.
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