Somehow the topic with $HKD passed me by so that I have researched and summarized the most important. Do not know what to think of it.

📌The most important thing:

The securities of #amtd Digital Group rose again by over 520% in a single day on Tuesday, August 2, and the company's market capitalization suddenly skyrocketed to a value of over $300 billion. The total performance over the last 5 days thus amounted to +1,448.64% at a current price of $1,100

According to the news service #bloomberg however, AMTD generated revenue of only about $25 million in 2017. At one point, the company was worth more than automaker Ford $F (+0.64%) . However, the stock fell to $1,528 after peaking at $2,555.

🌟The reasons:

The rise in the share price is again attributed to the so-called pump-and-dump scheme. The price of AMTD shares was allegedly pushed up by small investors on Reddit sites like. #wallstreetbets artificially driven up in order to profit from it.

The situation is reminiscent of the meme hype in 2021, when Gamestop and AMC stock prices rose due to false demand created by Reddit users to increase prices. However, news service Citron Research said that it would not be a meme stock because the trading volume was too low for that.

Short sellers and hedge funds came under fire. In contrast, AMTD issued a public statement thanking investors for the brisk trading while stating, "To our knowledge, there have been no material circumstances, events or other matters related to the business and operations of our company since the IPO."