One of the attractive avenues in recent times that had investors hooked from the get-go was Chinese/ Hong Kong stocks including AMTD Digital (NYSE:HKD), AMTD IDEA Group (NYSE:AMTD), and Addentax Group (NASDAQ:ATXG).
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Major global geopolitical tensions, rate hikes by central banks, and strict COVID-19 restrictions have sent quite a few stocks in a downward spiral but the trajectories of these three names have been a class apart.
Digital solutions provider HKD has seen its shares nosedive from a high of nearly $2,000 levels to the current $18 level. At the same time, the stock is still expensive with a price-to-earnings ratio of nearly 112 at present and trading volumes have now plummeted to about 51,000 levels.
Investment banking and asset management services provider AMTD has been on a downward trend since going public in 2019 at ~$20.18. Since then, the share price has dropped to the current $2 level while trading volume currently hovers at about 400,000.
Addentax provides services ranging from logistics and garment manufacturing to property management and epidemic prevention supplies in China as well as the U.S.
From a price high of $656.54 in August, the stock has dived off a cliff to the current $1.98 level. At the same time, its price-to-earnings multiple remains at about 282 at present.
The journey of these shares this year highlights the need for investors to be prudent at all times while investing their hard-earned money in the market.
Read full Disclosure
