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Why the Hong Kong-based $200 billion AMTD Digital stock is no GameStop

AMTD Digital Inc. has risen 14,000% since listing in New York, giving it a market value of more than $470 billion at one point this week

Markets, stocks, buy, sell, trading, shares, stock market
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Matthew Brooker | Bloomberg
How does a three-year-old Hong Kong fintech company with 50 employees become worth almost four times as much as Goldman Sachs Group Inc. in less than a month? Because stonks go up, duh. AMTD Digital Inc. has risen 14,000% since listing in New York, giving it a market value of more than $470 billion at one point this week and earning comparisons with the poster child of meme stocks, GameStop Corp. AMTD is a very different phenomenon, though.
 
It’s worth pausing for a minute to appreciate just how insane this is. AMTD Digital started trading July 15 after selling shares