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Li Ka-shing Group Distances Itself From AMTD Digital – FT

Trading in the Hong Kong digital bank’s stock, which was regularly noted on Reddit’s WallStreetBets this week, has seen its market cap pass Goldman Sachs since listing last month


AMTD Digital is one of the hottest stocks in the US currently.
AMTD chairman Calvin Chao and executives of the parent company celebrate its listing on the New York Stock Exchange in August 2019. Company image.

 

Hong Kong billionaire Li Ka-shing’s CK Hutchison disavowed links to AMTD Digital after the meme stock’s value shot up 14,000% to more than $200bn on the New York Stock Exchange, a report by the FT said on Thursday, which quoted Hutchison as saying it “does not hold any AMTD Digital shares” and is in talks to sell the “less than 4%” of shares it holds in AMTD Group.

Trading in the Hong Kong digital bank’s stock, which was regularly mentioned on Reddit’s WallStreetBets this week, has seen its market capitalisation surpass Morgan Stanley and Goldman Sachs since its listing last month, while AMTD Idea, which is listed in Singapore and New York, had also shot up 470% since last month, the report said.

Read the full report: The Financial Times.

 

  • Jim Pollard

 

ALSO SEE:

Meme Traders Fuel Fintech AMTD Digital’s 21,000% Stock Rise

Hong Kong’s AMTD Digital Goes Into Orbit in New York Trading

 

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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