The stock posted a profit of 32,000 per cent after listing, making investors millionaires in just two weeks

Hong Kong fintech company amtd Shares of Digital have stunned investors. That too in just two weeks. The company has given investors $ 7.80 in the IPO. share Offered . The stock was listed on July 15 at a premium of around 27 per cent. It is traded on the New York Stock Exchange. There […]
 


The stock posted a profit of 32,000 per cent after listing, making investors millionaires in just two weeks

Hong Kong fintech company amtd Shares of Digital have stunned investors. That too in just two weeks. The company has given investors $ 7.80 in the IPO. share Offered . The stock was listed on July 15 at a premium of around 27 per cent. It is traded on the New York Stock Exchange. There its price reached $2,521 on Tuesday. This is a return of 32,229 per cent in just two weeks. the company IPO Raised $125 million through Earlier this week, AMTD Digital thanked investors for the success of the IPO. Experts say that the reason for the rise in American depository shares of this company is its low float. Low float refers to the number of shares available for trading in the market. Its share float is only 1.9 crores.

Share prices of companies with fewer shares suddenly rise when demand increases. Experts say that AMTD Digital has created a Metaverse digital platform named Spidernet. It provides services to fintech companies. The business outlook of the company is positive, which has increased the demand for its shares.

AMTD Digital’s market capitalization jumped to nearly $400 billion on Tuesday following a massive jump in the past two weeks. Along with this, it has left behind giants like Walmart, Disney and McDonald’s in terms of market capitalization. It became the 14th largest company in the world.

Experts say that in view of such high growth, investors should stay away from the stock of this company. Despite the low float, he suspects a bubble in stock prices. He says that this bubble can burst at any time. When this happens, investors suffer huge losses. The company is a subsidiary of the Chinese financial company AMTD Idea Group.