What the fuck is amtd and why is it up 300%
AMTD IDEA Group Shares Up Sharply After IPO of Unit AMTD Digital
MT NEWSWIRES - 12:49 PM ET
12:47 PM EDT, 08/02/2022 (MT Newswires) -- AMTD IDEA Group (AMTD) shares were up 352% in Tuesday midday trading after its AMTD Digital (HKD) unit completed its initial public offering of 16 million American depositary shares.
AMTD Digital (HKD) said Tuesday that ADS trading in the NYSE was still undergoing an initial stabilization period where the underwriters have been given a green-shoe option to buy up to 2.4 million additional ADSs.
AMTD Digital (HKD) said that during the period since the IPO it "noted significant volatility in [its] ADS price and, also observed some very active trading volume."
"To our knowledge, there are no material circumstances, events nor other matters relating to our company's business and operating activities since the IPO date," AMTD Digital (HKD) said. "The company is also monitoring the market closely for any unusual trading activities or abnormalities."
AMTD Digital (HKD) shares were up 129% in recent Tuesday trading.
Price: 9.39, Change: +7.31, Percent Change: +351.44
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