The Latest /WSB Debacle

By -

Unless you’ve been hiding under a rock the past week, you have heard of the insanity going on with AMTD Digital. At first I thought it had to do with Ameritrade, since AMTD used to be their symbol, but AMTD Digital is some weird-ass small business that came public only a couple of weeks ago and basically did nothing. It ambled around $1.50 and $2.00 for its early days as a public entity.

It then caught fire and went up to almost $15. That’s when everyone started talking about it, because these little organization that no one heard of was worth more than almost every company you’ve heard of, including Boeing, Exxon, and Costco. In short order, of course, it fell, losing 75% in a matter of a few days.

As for what it produces – – pretty much nothing but breathless stories.

In all seriousness, though, the company does, in fact, have a website where it makes quite clear what it does. I hope you’re seated and haven’t eaten recently, because here it comes……………

Digital transformation is the new normal to real economies and people’s daily life. We believe that a multi-dimensional and integrated digital solutions platform is fundamental for us to empower and integrate the various digital businesses within our ecosystem. We aspire to understand and anticipate the needs of our clients and provide them with tailored digital solutions with a collaborative overlay. We acquire innovative technological capabilities by selectively cooperating with and investing in leading technology partners across Asia. The purpose is to build a solid foundation for our various business endeavors.