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Business/Economy

Amazing IPO: Share giving 32660% return in 15 days, is being discussed all over the world

IPO

The less discussed and newly listed company in the market did wonders. Within 15 days of listing in the market, this IPO gave more than 32600 percent return.

AMTD Digital IPO: People invest money in the market so that they can get better return on their investment. For this, most people rely on the shares of well-known companies. But it is not necessary that only big name stocks can give better returns. Recently, a less discussed and newly listed company in the market has done wonders. Within 15 days of listing in the US market, this IPO gave more than 32600 percent returns. However, in the next 2 days, the stock has broken about 96 percent from its record high. This company is Hong Kong based fintech company AMTD Digital.

AMTD Digital, which mainly provides loans and services to startups against fees. Interestingly, the revenue of the company giving loans to startups has been only $ 25 million for the year ended April 2021. For this reason, experts are raising some doubts about this boom.

Shares became rocket after listing

AMTD Digital’s stock was listed in the market on July 15. The price for the IPO was $7.80 per share. Whereas by August 2, this stock reached $ 2555.30. In this sense, the stock gave 32660 percent return in just 15 days. However, after going to a record high, there was a sell-off in it. On 2 August and on 3 August there was a huge fall in it. Now this stock has fallen from its high by about 96 percent to $ 1100. On August 3, it has fallen by more than 30 percent.

World’s largest companies

By reaching a record high, AMTD Digital became the 14th largest company. It left behind companies like Walmart, Alibaba, Toyota Motors, Coca-Cola, Bank of America and Disney in this matter. Shares of $ 7.80 were listed at $ 27-28. While it reached $ 2555. At one time its market cap exceeded $ 30000 million. This stock has given such high returns at a time when the stock markets around the world are under pressure due to the fear of recession and inflation. In such a situation, this IPO is also being discussed a lot. At present, its market cap has come to around $ 20000 million.

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