AMTD Digital sheds more than half its market value over two trading session


Shares of AMTD Digital Inc. HKD, -20.00% tumbled 38.1% in midday trading Thursday, and have now shed 59.4% in two days, after the recently public Hong Kong-based digital business developer made headlines with a 3,729% rocket ride amid a six-day win streak. Volume was just about 39,200 shares in recent trading, after the stock fell 34.5% on Wednesday on volume of 116,767 shares. During the attention-grabbing six-day win streak, the daily average volume was 1.15 million shares. And while AMTD Digital’s stock has so far been halted three times for volatility since Thursday’s open, it was halted nine times before noon Eastern on Wednesday, and nine times before noon on Tuesday. With Thursday’s decline, the stock is still trading about 8,633% above its initial public offering price of $7.80 — the stock went public on July 15 — and the current market capitalization of about $126.05 billion is greater than that of 440 of the S&P 500’s SPX, -0.11% companies.

This article was originally published by Read the original article here.

Previous articleGold futures score highest finish in a month, top $1,800 as investors focus on U.S. recession odds
Next articleThe Fed: Fed’s Mester backs higher interest rates until inflation begins to fade


Please enter your comment!
Please enter your name here