AMTD's Wild Rise Comes Crashing Down With $160 Billion Drop [Business News Network (BNN) (Canada)]
AMTD Digital Inc. (HKD)
Company Research
Source: Business News Network
AMTD Digital Inc., which made its trading debut on the New York Stock Exchange less than a month ago, has plunged 52% since closing at a record high on Tuesday, erasing about $160 billion in market value along the way. That's more than the entire current market capitalization of companies including Intel Corp., Morgan Stanley and Goldman Sachs. A dizzying rally over the last three weeks saw AMTD Digital's shares rise more than 32,000% from their initial public offering price at one point on Tuesday. That surge helped balloon the combined valuation of its Class A and Class B shares to upwards of $300 billion as of Tuesday's close, making it the third largest financial stock in the world. But the company reported just $25 million in revenue for the year ended April 2021, a far cry from the hundreds of billions of dollars made by industry titans like Berkshire Hathaway Inc. and JPMorgan Chase & Co. On Friday the company announced that the underwriters of its mid-July initial public
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HKD
News
- AMTD Digital Announces a New Share Repurchase ProgramBusiness Wire
- AMTD World Media And Entertainment Group Embraces Full Independent Board Structure, Ready For Its 2.0 Stage Of Development And Growth In The Global DomainBusiness Wire
- AMTD Digital Successfully Completed Its Share Repurchase Program [Yahoo! Finance]Yahoo! Finance
- AMTD Digital Successfully Completed Its Share Repurchase ProgramBusiness Wire
- AMTD Digital’s Entertainment and Movie Businesses Are Estimated to Contribute Significantly to Net ProfitBusiness Wire
HKD
Sec Filings
- 2/14/24 - Form SC
- 2/14/24 - Form 6-K
- 2/9/24 - Form 6-K
- HKD's page on the SEC website