AMTD Digital, a Chinese tech firm once topped a $400 billion valuation last month (+30000% in just 2 weeks)... It seems the craze is back again with $HKD shares up over 300% on Wedsday. Why would this happen again? Any thoughts?
$AMTD Digital Inc.(HKD)$$GameStop(GME)$AMTD vs GME, they have similar movesGME Initial Meme stage that breaks All Time High after High1. crazy UP move in two weeks (Jan 2021)2. collapse > 90% thereafter (Feb 2021)3. another UP thrust that follows (late Feb 2021) and gradually ended in Mar 2021 (though it remained volatile throughout the rest of the year)Back to AMTD (and YES! only if you think the moves very similar)1. GOD move in two weeks (Jul 2022 initial IPO trading)2. collapse > 90% thereafter (Aug-Sep 2022)3. another UP thrust that follows (currently in progress)The ONLY significant difference between them - VolumeAMTD is thinly traded as opposed to GMEResist - $800 ~ $1000 (multi-bagger!)Suppor
$AMTD Digital Inc.(HKD)$will soar again whenever there's greed.The number of trading days can't even fill up the k-line chart and you see two abnormal spikes in trading price.The first price spike 8000% late July/early Aug on no news.Recent price spike of 200+% last week, again on the absence of any catalyst seems mild. Trading had to be halted 11 times since last Wed open.I can't say I understand what's going on, but I'm sure in the grand scheme of things, there's going to be winners and losers. Unless you know how the game's played for this counter, which most retail investors don't, the best advice is to stay clear.There are so many fishes in the sea, let's leave the dangerous puffer fish alone and catch other safer ones. [Happy]