Connect with us

Hi, what are you looking for?


Meme stock AMTD is 21,000% since July IPO – What you need to know

In the current squeezed capital markets, getting a stock with positive gains in the year is rare. However, AMTD Digital Inc. (NYSE:HKD) shares are making headlines. That was after becoming a center of retail interest. As of Wednesday, the stock traded at $1,014.98, up from its July IPO price of $7.80. AMTD also trended on Thursday as retail investors looked to squeeze the last juice from the meme stock.

AMTD Digital is a fintech firm based in Hong Kong. It offers loans and other services to startups. The company is tightly controlled by AMTD Idea, its parent company. 

The latest gains in AMTD have since been linked with a pump-and-dump scheme. Hindenburg Research founder Nate Anderson says that the stock is driven by retail investors. AMTD is also in agreement with the view. In a Tuesday note, the company said there was no event or material change related to it or the operating activities. AMTD further stated that it was monitoring the volatilities that gripped its stock.

AMTD is on a parabolic move as retail interest grows

Source – TradingView

From the technical outlook, AMTD is displaying a parabolic movement. The stock is retreating after recent gains. However, retail interest remains high as gains in the last 24 hours are more than 13%. However, as stated, AMTD is not driven by any fundamentals. That warns potential investors that the stock could face a painful crash.

Concluding thoughts

AMTD stock is driven by retail interest. It could be the latest meme stock to fall victim to coordinated pump-and-dump. Investors should be aware of that and consider the risks involved in trading or holding the stock.

The post Meme stock AMTD is 21,000% since July IPO – What you need to know appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...


    Solana (SOL/USD) is enormously underrated as a cryptocurrency project, even with its hiccups – including the latest exploit on one of the ecosystem apps....

    Editor's Pick

    The new eSIM infrastructure will help modernise the IoT connectivity market with fast, secure connections and reduced vendor lock-in. 1oT, a tech startup from...


    The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics shows the total number of job openings in the economy...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023