Whopping 32,000% return in 15 days! This fintech firm beats Walmart, Disney to become 14th largest company in world – Zee Business analyst decodes

AMTD Digital share price: Hong Kong-based fintech company AMTD Digital's share price has jumped a whopping 32,000 per cent in just two weeks from the date of its listing on July 15, 2022, according to a Zee Business research report. The company trades on the New York Stock Exchange. 

When the IPO of AMTD Digital was launched, the stock was priced at $7.80 apiece and it was listed at around $27-28, senior research analyst Kushal Gupta said. On Tuesday, AMTD Digital share price hit a lifetime high of $2555 apiece, crossing the market capitalisation of $400 billion.

The fintech company’s market capitalisation, as of Tuesday, has beaten giants like Walmart, Disney, and McDonald, eventually becoming 14th biggest company in the world, the analyst said. 

Explaining the reason behind the massive surge in the stock price, Gupta said, “AMTD Digital has created a metaverse digital platform called SpiderNet, which mainly caters to fintech firms, and the demand of investors increased in view of the positive business outlook.”

किस शेयर में 32000% का उछाल?

कौनसा शेयर दो हफ्ते में 32000% रिटर्न देकर दौड़ लगा रहा है?

इस उछाल में #metaverse का क्या है कनेक्शन?

जानिए ये इंटरेस्टिंग डिटेल्स कुशल गुप्ता से...@KushalGupta44 @AnilSinghvi_ @deepdbhandari @kunalsaraogi pic.twitter.com/JC47KHWI7o

— Zee Business (@ZeeBusiness) August 3, 2022

Besides, the analyst also said the company has a float of only 19 million shares. He said that low float and good business outlook is the reason why the retail investors mostly queued to buy AMTD Digital shares. 

Gupta said that this could be a bubble, seeing levels of the share price in such a short period.

Market analyst Kunal Sarogi said that the massive surge in the share price of AMTD Digital is completely a bubble, adding that the possibility of a fall in such stocks is also high. 

AMTD Global Markets Limited is a subsidiary of AMTD Digital's parent company, AMTD Idea Group, which is a Chinese financial company.