![]() ![]() The unit was founded in 2019, and provides fintech services in Asia, including a virtual bank called Airstar. Since then, the price has jumped to $1,679.ĪMTD Digital is a financial services startup that trades on the New York Stock Exchange under ticker symbol "HKD." The company is an arm of AMTD Idea Group, an investment bank based in Hong Kong that is also listed in New York and Singapore. ![]() The company debuted on the New York Stock Exchange on July 15, listing its shares at $7.80 apiece. Reddit forum WallStreetBets, with a user base of well over 10.7 million and growing, rose to prominence in the finance world after it was identified as a key social hub frequented by retail. Shares of AMTD Digital have spiked nearly 3,000% over the past week, and were up 126% on Tuesday alone. r/wallstreetbets, also known as WallStreetBets or WSB, is a subreddit where participants discuss stock and option trading. You'd like to pay as little as possible while getting benefits like the charting you need, a mobile app, reliability, etc. What brokers do you recommend You get what you pay for. To help us moderate, we've increased minimum requirements to submit posts and comment. WallStreetBets is actually r/wallstreetbets and it’s a forum or subreddit on the popular website Reddit, which is a social platform and discussion group that also rates web content. NEW YORK - The Reddit retail army is back.Ī little-known Hong Kong-based company appears to have become the latest obsession of traders on the popular Reddit forum WallStreetBets, helping its stock shoot up 21,000% since its IPO less than a month ago. We've grown much faster than anticipated. ![]() Posts made it to r/popular, Wall Street Bets members gained online infamy, more casual investors were introduced to the trend, and a cycle began.The Hong Kong-based financial company AMTD Digital has become the latest obsession of the "wallstreetbets" Reddit community, causing its stock to soar 14,000% in less than a month. The first few days of gains saw Wall Street Bets members cheer the rally and beg more to join in. Richard Smith, the CEO of the Foundation for the Study of Cycles, told Insider that GameStop's rally was "absolutely" a momentum trade, just one operating in a "very compressed time frame." A momentum trade is generally characterized by investors continuing to pile into a proven winner. The core behavior seen in the market isn't unheard of. Countless users unfamiliar with Wall Street Bets have been exposed to its exuberance and high-risk, high-reward behavior, often through posts showing off multimillion-dollar gains on GameStop shares. Some posts garner so many upvotes they are elevated to r/popular, the constantly updated subreddit that flaunts the day's posts with the most interaction.ĭuring the GameStop-trade saga, several Wall Street Bets posts with tens of thousands of upvotes have graced the pseudo-hall-of-fame page. On r/wallstreetbets, members frequently brag about outsize gains - and, in some cases, losses - and make a mockery out of risky trading behavior. They're particularly big fans of electric-vehicle stocks Tesla enjoys unique enthusiasm on the forum. Options-obsessed members have boasted about trading everything from newly bankrupt car-rental giants to now-delisted Chinese café chains. One bear has even stopped commenting on GameStop stock, citing harassment from some members. Their overwhelming bullishness has fueled billions of dollars in losses for short-sellers. WallStreetBets (r/wallstreetbets, also known as WSB), is a subreddit where participants discuss stock and option trading. Shares have skyrocketed more than 1,200% since Wall Street Bets first piled in January 11. Members have spent the past three weeks bidding up the video game retailer GameStop, and the results have been spectacular. Growth accelerated further this month, and the forum's 2.2 million current members now drive one of the platform's most active pages. The subreddit's subscriber count ballooned by 133% to 1.8 million members last year. In the first weeks of 2021, it discovered just how strong it's become. Like Bitcoin, Tesla, and the SPAC IPO, the Reddit forum r/wallstreetbets grew exponentially in 2020.
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