AMTD Digital Stock Price, News & Analysis (NYSE:HKD)

AMTD Digital Inc., a Hong Kong-based financial technology firm, provides digital solutions to clients in the financial sector. A subsidiary of the AMTD Group, a financial services group also based in Hong Kong, AMTD Digital Inc. is owned by AMTD Idea, which holds 88.7% of the firm's shares. The AMTD Group ultimately owns both AMTD Digital Inc. and AMTD Idea.

In 2019, Calvin Choi, a former UBS investment banker, founded AMTD Digital. Choi is also the chairman of AMTD Idea and the AMTD Group. In early 2022, the Securities and Futures Commission (SFC) issued a two-year ban against him due to conflicts of interest in 2014 and 2015 while he was a UBS banker and dealmaker. Choi is currently appealing the decision from the SFC.

Clients in the financial sector use AMTD Digital's services and the firm's proprietary software platform, AMTD SpiderNet. The firm operates across four lines of business: SpiderNet ecosystem solutions, digital financial services, digital investments and content development, marketing and digital media. Most of AMTD Digital Inc.'s revenue comes from fees and commissions earned from its digital financial services business and its SpiderNet ecosystem solutions segment.

The SpiderNet ecosystem solutions segment connects Asia-based entrepreneurs and corporations with resources and technologies from the SpiderNet platform. The digital financial services segment provides corporate and retail insurance coverage and corporate digital banking services. Content development and marketing and digital media distribute promotional messages through digital media platforms, such as social media, mobile apps and websites. The digital investments segment holds interests in several companies, such as Appier, AMTD ASEAN Solidarity Fund, WeDoctor, DayDayCook and MAS-SFA-AMTD FinTech Solidarity Grant. The MAS-SFA-AMTD comprises the Monetary Authority of Singapore (MAS), the Singapore FinTech Association (SFA) and AMTD Foundation (AMTD), which have established a fund to support fintech companies based in Singapore. 

On July 15, 2022, AMTD Digital held an IPO on the New York Stock Exchange with a starting price of $7.80. Since then, the company's stock has seen tremendous price fluctuations on the stock market. On August 1, 2022, the stock started to rise incredibly fast and, despite the lack of a catalyst, surged from its IPO price to $721.23, a 21,000% increase, resulting in a market capitalization of over $310 billion. It put AMTD Digital's market capitalization higher than companies like Bank of America, Coca-Cola, Shell and Costco. Immediately after the peak, the price began to decline steadily and currently hovers between $10 and $20.

AMTD Digital has made significant investments in the financial technology sector. The firm has invested in numerous start-ups and invested in fund and grant organizations to award monies to financial technology start-ups. Its peer community recognized AMTD Digital for its involvement and continued commitment. It has earned the World Economic Forum's Global Growth Company label and the Hong Kong Corporate Social Responsibility Award.