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AMTD Digital, a little-know fintech company based in Hong Kong, has recently become the latest meme stock in the market. It went public in mid-July on the NYSE with an IPO price equal to $7.80 per share and, after two weeks, it hit the incredible value of $1,679 per share. As a consequence, AMTD\u2019s market cap reached $310 billion, making it bigger than companies like Coca-Cola and Bank of America.<\/p>\n
This crazy move surprised the Company itself that issued a \u201cthank you\u201d note to its investors on Tuesday, also specifying that, to their knowledge, there were no material circumstances directly related to the Company\u2019s business that could justify this market movement. AMTD\u2019s main sources of revenues are fees and commissions from digital financial services and its revenues were equal to $25 million at the end of 2021.<\/p>\n
As it happened to GameStop in 2021, this wild increase was pushed by retail investors on Reddit, with AMTD\u2019s ticker being the most popular on WallStreetBets chat room on Tuesday. <\/p>\n
Source: CNBC<\/strong><\/p>\n [\/et_pb_text][et_pb_image src=”https:\/\/new-momentum.com\/wp-content\/uploads\/2022\/08\/amtd-digital-to-the-moon-original.jpg” title_text=”amtd-digital-to-the-moon-original” align=”center” _builder_version=”4.17.6″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" AMTD Digital to the moon!AMTD Digital, a little-know fintech company based in Hong Kong, has recently become the latest meme stock in the market. It went public in mid-July on the NYSE with an IPO price equal to $7.80 per share and, after two weeks, it hit the incredible value of $1,679 per share. As […]<\/p>\n","protected":false},"author":8,"featured_media":5253,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[73],"tags":[],"class_list":["post-5239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-noticias"],"yoast_head":"\n