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Meme stock traders have a new favorite: Hong Kong's AMTD Digital

By Bansari Mayur Kamdar and Medha Singh (Reuters) - Shares of AMTD Digital on Wednesday extended an eye-popping rally fueled by retail investors this week that briefly took the...
Meme stock traders have a new favorite: Hong Kong's AMTD Digital © Reuters. Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 2, 2022. REUTERS/Andrew Kelly

By Bansari Mayur Kamdar and Medha Singh

(Reuters) - Shares of AMTD Digital on Wednesday extended an eye-popping rally fueled by retail investors this week that briefly took the Hong Kong-based fintech's market value past that of Facebook-owner Meta Platforms.

AMTD's shares rose another 6% in premarket trading on Wednesday. The company's market capitalization surged above $450 billion in a 244% jump on Tuesday, reminding investors of the meme stock mania last year that drove record rallies in shares of companies such as GameStop (NYSE:GME) and AMC.

The stock has soared about 21,000% since its July IPO, when it listed at a price of $7.80.

"It is clearly the newest meme stock with bands of retail traders purchasing the stock at the same time, pushing the price sharply higher," said Victoria Scholar, head of investment at Interactive Investor.

Scholar added that the bullish momentum was being exacerbated by short covering to offset losses by hedge funds with bearish positions on the stock.

AMTD Digital was the most-mentioned stock on Reddit.com, the social media platform central to the meme stock craze of 2021.

The fintech company, which provides loans and services to startups in exchange for fees, has a low float and is tightly controlled by parent company AMTD Idea.

AMTD Idea's shares also surged 27.9% after closing Tuesday with a market value of $2.6 billion.

AMTD Digital said https:// on Tuesday there was no material change or event related to the company's business and operating activities since the IPO date and that it was monitoring the share volatility.

There has been a similar surge in some other recently listed U.S. companies, including Getty Images which jumped over 200% since its debut on July 25.

"There is no quantifiable reason for the behaviour, or trajectory, as moves are sentiment driven, with these feelings being based on little information," said Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown.

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17-08-2022 23:49:36 (UTC+7)

EUR/USD

1.0168

-0.0001 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (6)

Sell (1)

EUR/USD

1.0168

-0.0001 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (6)

Sell (1)

GBP/USD

1.2044

-0.0049 (-0.41%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (5)

Sell (2)

USD/JPY

135.35

+1.13 (+0.85%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (8)

AUD/USD

0.6929

-0.0093 (-1.32%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (1)

USD/CAD

1.2912

+0.0069 (+0.53%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (7)

EUR/JPY

137.63

+1.14 (+0.84%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (9)

EUR/CHF

0.9691

+0.0037 (+0.38%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (2)

Gold Futures

1,776.65

-13.05 (-0.73%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

Silver Futures

19.738

-0.347 (-1.73%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

Copper Futures

3.5873

-0.0372 (-1.03%)

Summary

Sell

Moving Avg:

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Sell (6)

Indicators:

Buy (1)

Sell (6)

Crude Oil WTI Futures

87.44

+0.91 (+1.05%)

Summary

↑ Buy

Moving Avg:

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Sell (0)

Indicators:

Buy (9)

Sell (0)

Brent Oil Futures

93.01

+0.67 (+0.73%)

Summary

↑ Buy

Moving Avg:

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Indicators:

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Natural Gas Futures

9.291

-0.038 (-0.41%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (1)

Sell (7)

US Coffee C Futures

217.98

-1.37 (-0.62%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Euro Stoxx 50

3,756.06

-49.16 (-1.29%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (4)

S&P 500

4,273.56

-31.64 (-0.73%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (10)

Sell (0)

DAX

13,626.71

-283.41 (-2.04%)

Summary

Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (3)

FTSE 100

7,515.75

-20.31 (-0.27%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (4)

Hang Seng

19,922.45

+91.93 (+0.46%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (4)

US Small Cap 2000

1,983.35

-36.91 (-1.83%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (0)

IBEX 35

8,434.80

-77.10 (-0.91%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (4)

Sell (1)

BASF SE NA O.N.

42.685

-2.065 (-4.61%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (2)

Bayer AG NA

53.37

-0.93 (-1.71%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (4)

Sell (3)

Allianz SE VNA O.N.

177.54

-2.40 (-1.33%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

Adidas AG

169.10

-4.26 (-2.46%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (8)

Deutsche Lufthansa AG

6.467

-0.280 (-4.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Siemens AG Class N

108.64

-3.40 (-3.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Deutsche Bank AG

8.856

-0.108 (-1.20%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (3)

 EUR/USD1.0168↑ Buy
 GBP/USD1.2044Neutral
 USD/JPY135.35↑ Sell
 AUD/USD0.6929↑ Buy
 USD/CAD1.2912↑ Sell
 EUR/JPY137.63↑ Sell
 EUR/CHF0.9691Buy
 Gold1,776.65↑ Buy
 Silver19.738↑ Buy
 Copper3.5873Sell
 Crude Oil WTI87.44↑ Buy
 Brent Oil93.01↑ Buy
 Natural Gas9.291Neutral
 US Coffee C217.98↑ Sell
 Euro Stoxx 503,756.06Sell
 S&P 5004,273.56↑ Buy
 DAX13,626.71Sell
 FTSE 1007,515.75Neutral
 Hang Seng19,922.45Neutral
 Small Cap 20001,983.35Buy
 IBEX 358,434.80Neutral
 BASF42.685Neutral
 Bayer53.37Neutral
 Allianz177.54Buy
 Adidas169.10↑ Sell
 Lufthansa6.467↑ Sell
 Siemens AG108.64↑ Sell
 Deutsche Bank AG8.856Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,600/ 6,700
(20/ 20) # 1,674
SJC HCM6,620/ 6,720
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SJC Hanoi6,620/ 6,722
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SJC Danang6,620/ 6,722
(20/ 20) # 1,697
SJC Nhatrang6,620/ 6,722
(20/ 20) # 1,697
SJC Cantho6,620/ 6,722
(20/ 20) # 1,697
Cập nhật 17-08-2022 23:49:39
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,761.51-14.17-0.80%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
DO 0,001S-V24.88025.370
Dầu hỏa 2-K23.32023.780
ↂ Giá dầu thô thế giới
WTI$86.70-0.08-0.10%
Brent$92.23+0.170.18%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.235,0023.545,00
EUR23.186,9924.485,46
GBP27.597,2628.774,17
JPY169,51179,46
KRW15,4518,83
Cập nhật lúc 18:50:59 17/08/2022
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