Hong Kong billionaire Li Ka-shing’s CK Hutchison disavowed links to AMTD Digital after the meme stock’s value shot up 14,000% to more than $200bn on the New York Stock Exchange, a report by the FT said on Thursday, which quoted Hutchison as saying it “does not hold any AMTD Digital shares” and is in talks to sell the “less than 4%” of shares it holds in AMTD Group.
Trading in the Hong Kong digital bank’s stock, which was regularly mentioned on Reddit’s WallStreetBets this week, has seen its market capitalisation surpass Morgan Stanley and Goldman Sachs since its listing last month, while AMTD Idea, which is listed in Singapore and New York, had also shot up 470% since last month, the report said.
Read the full report: The Financial Times.
- Jim Pollard
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