Those who benefit from it are most likely the facilitators. I adopted it this morning. They could have earned $4 billion, says Robert Ness.
– In other words like winning Pluto?
– Furthermore! Nice laughs: You don’t often win 40 billion NOK in Lotto.
The organizers of the IPO of AMTD Digital, that is, those who helped attract investors in advance, received 2.4 million shares themselves, which they had the opportunity to sell before August 15.
The IPO price of AMTD Digital was $7.80 per share. The relatively unknown company from Hong Kong was launched on the New York Stock Exchange on July 15, just over two weeks ago.
The share price on Tuesday was as high as $2,350.
Follow-up: Nordea Investment Director Robert Ness is intrigued by the entry of AMTD Digital on the New York Stock Exchange. Photo: Kåre Breivik / TV2
giant
When the New York Stock Exchange closed on Tuesday, it was at $1,679. This is the price Næss used as a starting point for the calculation he made for fun on Wednesday morning.
– This may not have happened before, says Nordea’s investment manager.
The company’s total market capitalization suddenly skyrocketed to $310 billion, making AMTD Digital a bigger company than Coca-Cola and Bank of America, according to FactSet.
In fact, AMTD Digital suddenly became the largest of the 480 companies out of the 500 companies included in the S&P500 Index.
According to CNBC, AMTD Digital generated just $25 million in sales last year. The company offers digital business solutions for businesses.
Next GameStop
We ask Robert Næss if he can explain exactly why the stock price has fallen.
– Both yes and no. Most likely not. The dream of many small investors is to find a stock that rises a lot. There’s always talk of finding the next GameStop, Næss tells TV 2.
Usually companies choose within crypto or areas where there are currently low profits, but huge potential, Næss explains.
– To go share like AMTD Digital is a puzzle.
Nordea’s chief investment officer notes that the company has only 50 employees, but it earned $10 million last year and was priced at thirty times its earnings when it went public.
– The only thing that can explain it is the index, (the abbreviation of the letter which is the company identifier in the stock exchange, daily journals.). This company has the same index used with the Hong Kong dollar. It is actually conceivable that someone has acted incorrectly, then the arrow goes up and then people jump on it.
– It would be ‘hype’, simply put?
– Yes, it will be like a pyramid scheme. It only applies to Not Be a man of order at the door.
Thank you to the investors
AMTD Digital is compared to last year History of GameStopbut as CNBC writes in the title: This is it The stock that makes GameStop look like a child’s play.
On Wednesday, the stock opened at $1,900. At the time of writing, it’s just under 1,100, but the volatility is massive.
Trading in the stock has already been suspended nine times due to volatility.
The company issued a thank-you letter to investors, stating that there is “very active trading for the stock” and that it is in an “initial stabilization phase.”
The company, according to Market Watch, says it is closely monitoring abnormal conditions, but is not currently aware of any such.
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