- AMTD IDEA Group ( NYSE: AMTD ) stock is rocketing more than four-fold in Tuesday early afternoon trading. While the Hong Kong-based investment firm's stock is typically a volatile one , the 387% surge is more than usual. About 172M shares changed hands so far in the session, more than 90 times its three-month daily average of 1.85M.
- The movement comes about two weeks after its AMTD Digital ( NYSE: HKD ) subsidiary listed in the U.S. and became the largest IPO of a Chinese company in New York this year. HKD American depositary shares are also soaring, up 236% in early afternoon trading.
- AMTD Digital ( HKD ) issued a statement thanking investors for their response to the ADS listing. The ADS trading is still in its initial stabilization period and is within the 30-day period in which underwriters have the option to buy as much as 2.4M more ADSs at the IPO price of $7.80 per ADS. HKD ADSs recently traded at $2,200
- At the same time, AMTD Digital ( HKD ), commenting on the recent volatility in the ADS price, said it knows of "material circumstances, events nor other matters relating to our Company’s business and operating activities since the IPO date."
- Previously (July 26), Why did AMTD Digital shared climb almost 29%? The post-IPO roller coaster
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AMTD IDEA and subsidiary AMTD Digital ADSs fly up in Tuesday trading