Since its mid-July initial public offering, AMTD Digital (NYSE:HKD) stock has gone to the moon.
At the time of writing, HKD stock trades at $390. At the company’s IPO on July 15, shares of the financial media company were listed at $7.80.
Thus, the math on this IPO is rather incredible. Those who bought in at the debut price have booked gains of more than 4,500% in just two weeks. That’s right, a 45-bagger in this short amount of time.
Friday’s doubling on little news appears to indicate just how bullish investors are on this momentum stock.
Let’s dive into how sustainable this move might be.
The post Why Is AMTD Digital (HKD) Stock Up 100% Today? originally appeared at InvestorPlace.