Another little-known Chinese stock is soaring with a one-day price gain of more than 5,000% in its IPO debut

News Snapshot:

A trader works at the New York Stock Exchange NYSE in New York, the United States, on March 9, 2022. Michael Nagle/Xinhua via Getty Magic Empire Global stock soared as much as 5,799% in its IPO debut on Friday. The move in the Hong Kong-based stock comes just days after shares of AMTD Digital saw a wild rally of more than 32,000% from its IPO debut. One thing in common both companies have is the low-float nature of their shares outstanding. Advertisement Shares of Magic Empire Global soared as much as 5,799% in its IPO debut on Friday as another...