AMTD Digital's stock goes parabolic, halted for volatility
AMTD Digital's (HKD) stock was halted for volatility after continuing to go parabolic on Thursday. American depository shares of the Hong Kong-based fintech company were up 90% during the session, after closing a record 312% higher on Wednesday.The stock was caught in a meme-like frenzy shortly following its public debut on the NYSE in July. At one point it was up more than 4,000% over a one-month-basis reaching $1,400 per ADR.On August 2, the companyissued a news release saying thank you to investorsfor taking the stock higher, but gave no explanation for the surge. AMTD Digital briefly reached a market cap of over $400 billion last month before coming back down to earth.A small float makes HKD a prime candidate for volatility, as noted by Citron Research in early August.Thursday's market
Key Points Alibaba disappointed investors with its decelerating revenue growth. Baidu has stabilized its advertising business and expanded its cloud and AI platforms. One of these stocks is clearly a safer investment right now. Alibaba(NYSE:BABA)and Baidu(NASDAQ:BIDU), two of China's largest tech companies, recently posted their latest earnings reports. Alibaba disappointed investors with a top-line miss that represented its slowest growth rate as a public company, and its stock sank to its lowest levels in more than five years. Baidu beat analysts' expectations on the top and bottom lines, and its stock held steady in this wobbly market. Does Baidu's resilience make it a better buy than Alibaba? Let's take a fresh look at these two Chinese tech titans to decide. Alibaba's growth