News Snapshot:
Hong Kong-based AMTD Digital’s share price has surged by more than a hundredfold since its IPO last month, though there appears to be little reason for the extreme market optimism. On July 15, AMTD Digital listed its American depositary shares (ADS) on the New York Stock Exchange at $7.80 each and since then, the price has soared to inexplicable new heights. At one point, AMTD Digital rose to over $2,500 per share – a more than 30,000 percent increase – resulting in a market capitalization of $400 billion that surpassed corporate behemoths like Walmart or Exxon Mobil, despite reported annual...
