ATMD Digital: Why Did the Stock Suddenly Skyrocket?

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  • AMTD Digital is a Hong Kong-based digital investment bank that held its IPO on July 15.
  • HKD hit the market at a share price of $7.80 and reached over $2,000 per share this week.
  • The sudden increase of AMTD Digital’s share price surpassed meme-stock rallies like GameStop’s in January 2021.

Figure 1: ATMD Digital: Why Did the Stock Suddenly Skyrocket?

What Caused HKD’s Abnormal Trading Activity?

On July 15, Hong Kong-based AMTD Digital  (HKD)  held an initial public offering (IPO).

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