AMTD Digital is a Hong Kong-based financial technology firm founded in 2019. It’s a subsidiary of AMTD Group. It had its IPO in July 2022 on the New York Stock Exchange at $12 per share. In August, just two weeks after the IPO, there was a rally that took price up to $2545 which stands as the all-time high. That price gain was over 212X.
After the all-time high was reached, there was a massive price dump in that same month of August and price went below $100. Since September 2022, price has been below $100. AMTD Digital closed 2022 below IPO at $10.09. It opened on the first trading day of 2023 at that same price. On the 5th of January, there was a gap up and price closed for the day at $29. This rise was an appreciation of 199.50% in one trading day.
Currently on the daily chart as a result of the price rally, RSI shows price has been overbought. Our analysts think that price might rally to $60 soon.
Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stock your portfolio? Schedule a meeting with us here