AMTD Digital stock soars 3,165% over past 7 days

Early investors in AMTD Digital Inc. have basically won the lottery, as the Hong Kong-based digital business developer's stock has gone up 3,165% over the past seven days.

The stock HKD, pulled back 16.6% in very volatile midday trading Wednesday, has already been stopped nine times for volatility, putting it on track to snap a six-day win streak. It traded in an intraday range of up 26.1% to down 41.0%.

Even with the day of the saleoff, the company has added $250.95 billion in market value over the past seven days.

Since AMTD Digital went public on July 15th at an initial public offering price of $7.80 per American depositary share ADS, the stock has gone up about 17,849% and now has a total market cap of about $259.06 billion.

The company's revenue of $25.2 million was up from a profit of $20.4 million on revenue of $21.6 million in 2021, up from a profit of $20.4 million in 2020.

The value of AMTD IDEA stake has gone up to $229.78 billion from $1.28 billion at the IPO price.

AMTD Digital had 74.02 million outstanding ordinary shares outstanding after the IPO, including 8.37 million Class A ordinary shares and 65.65 million Class B ordinary shares, all owned by AMTD IDEA. AMTD IDEA shares rallied 1.7% in midday trading Wednesday, and have gone up 265.0% over the past seven days.

AMTD Digital issued a thank you note to investors on Tuesday for the successful completion of its IPO. The company said it had noted significant volatility in the ADS price and very active trading volume, as the ADS trading was still undergoing our initial stabilisation period on the New York Stock Exchange NYSE. We know there are no material circumstances, events or other matters relating to our company's business and operating activities since the IPO date.

The company said it is monitoring the market closely for any unusual trading activities or abnormalities.

Talk about unusual, AMTD Digital is currently more valuable than 480 of the S&P 500 index SPX components, including such iconic Dow Jones Industrial Average DJIA, components such as Walt Disney Co. DIS, McDonalds Corp. MCD, Goldman Sachs Group Inc. GS, and Boeing Co. BA.