What's Going On With AMTD Digital (HKD) Stock?

AMTD Digital Inc HKD shares are trading higher Wednesday. The company announced that it expects to achieve more than a 50% increase in net profit for full-year 2023.

What Happened: AMTD Digital said it anticipates a net profit after tax increase of over 50% year-over-year. The digital solutions platform company noted that it has embarked on new business approaches since going public last year that have resulted in strong growth momentum.

AMTD Digital made its public debut in July 2022. The stock soared more than 32,000% in the wake of the company's IPO, but there wasn't any apparent news that sent shares higher. However, AMTD Digital was trending across social media platforms for an extended period of time following its IPO, suggesting the rally may have been driven by strong retail demand. 

AMTD Digital was the top trending ticker on Stocktwits at the time of publication. Wednesday's trading volume has already exceeded 1.5 million, above its average session volume of approximately 1.07 million, according to Benzinga Pro.

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HKD Price Action: AMTD Digital shares were up 1.86% at $6.01 at the time of writing, per Benzinga Pro.

Photo: Pexels from Pixabay.