AMTD Digital (NYSE:HKD) stock’s wild ride continued on Wednesday as the financial technology solutions provider’s shares rose by more than 4% in pre-market trading. The upswing in the stock was as the Hongkong based financial technology solutions provider announced that its key shareholders will not sell any of their HKD shares in the open market before August 2024.
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These key shareholders include “AMTD Group, Calvin Choi (together with his holding company Infinity Power Investments), AMTD IDEA Group, and the executive officers of AMTD Digital”
The selling restrictions on key shareholders were tied to HKD’s listing on stock exchanges back in July. The stock has seen some wild price movements as it surged more than 10,000% after its listing. However, the stock has now lost most of these gains and is now trading just above its yearly low of $9.31.
HKD stock has lost more than 16% in value since its IPO.
