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Is It Too Late to Buy AMTD Digital Stock?

TheMotleyFool

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Is It Too Late to Buy AMTD Digital Stock?: https://g.foolcdn.com/editorial/images/694181/woman-shower-cash.jpg

AMTD Digital (NYSE: HKD) recently became one of the market's hottest meme stocks after its IPO on July 15. The Hong Kong-based fintech company priced its ADR shares at $7.80, and its stock started trading at $22.44 before skyrocketing to an all-time high of $2,555.30 on Aug. 2.

That abrupt rally was driven by intense buzz on Reddit's WallStreetBets (WSB) subreddit as well as other social media platforms. The stock has pulled back to $1,100 as of this writing, but it's still valued at about $200 billion -- or 8,000 times the $25 million in revenue it generated in 2021.

Image source: Getty Images.

Source Fool.com

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