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Not long ago, holding company AMTD IDEA Group (NYSE: AMTD ) stock rose from obscurity. AMTD Digital (NYSE: HKD ), the company's subsidiary, was probably the target of a massive short squeeze.
AMTD Idea (NYSE: AMTD ), the company behind last month's AMTD Digital (NYSE: HDK ) stock explosion, saw its stock briefly jump 27% overnight after it announced it will move cash from some of its real estate assets into the spinoff. The company said net proceeds of $268 million from a $500 million real estate sale will first be turned into AMTD Idea stock at $8.68 per share.
Hot stocks took on a whole new meaning during meme stock mania. The question now is: are meme stocks back?
The newly minted meme stock continues its implosion.
The company's skyrocketing shares, which closed at $1,100, are reminding investors of the meme stock mania last year.
AMTD Idea (NYSE: AMTD ) traded higher today before falling in the red. Shares of AMTD are currently down over 10%.
Here's what you need to know about buying penny stocks on August 2nd The post Best Penny Stocks to Watch Before Market Open on August 2nd appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.
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.