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Boosted by retail investors despite an absence of good news, the company’s stock has jumped 41% so far this year, compared to a 19% loss for the SPDR S&P Retail ETF and a 10% loss for the broader S&P 500 index. After he pushed for change at the company and a turnaround in the business, Bed Bath & Beyond CEO Mark Tritton was replaced in late June following yet another batch of bad financial results. Key Background:Īctivist investor Ryan Cohen first revealed a roughly 10% stake in the company back in March. She insists that the stock continues to trade at “unrealistic valuations,” though the recent rally could provide the company with a “long-term lifeline” if it raises money from stock sales similar to other meme stocks like GameStop and AMC.

Riley Financial analyst Susan Anderson wrote in a note to clients. The stock has “recently gained the attention of retail traders in the Wall Street Bets Reddit forum again, which gained notoriety during the GameStop saga back in January 2021,” B. What To Watch For:īed Bath & Beyond’s stock rally on Tuesday came even as yet another analyst turned bearish, with a price target of just $5 per share implying over 75% downside from current price levels. “To our knowledge, there are no material circumstances, events nor other matters relating to our Company’s business and operating activities since the IPO date,” AMTD Digital said in the statement.Shares have surged more than 80% in the last three days alone, even amid fresh warnings about the company’s business prospects from Wall Street analysts, the majority of which maintain a “sell” rating on the stock, according to FactSet data. Quiver r/WallStreetBets Strategy Analysis Here is a brief overview of our analysis describing two types of trading strategies built using Quiver Quantitative’s WallStreetBets API. AMTD Digital issued a “thank you note” to investors Tuesday, adding it’s monitoring the market closely for any trading abnormalities. The crazy moves, based on no material news, also shocked the company itself. “We literally had Congressional hearings over the $30B runs of $GME and $AMC, but just today. “So we’re all just going to ignore the $400B meme stock in the room?” Chanos said in a tweet. “As we’ve learned over the past two years, events like this cause what I would say is opportunities for profit but great risk for loss particularly for our retail investors,” Jay Clayton, former SEC chairman, said Wednesday on CNBC’s “Squawk Box.” Famed short seller Jim Chanos took it to Twitter and expressed frustration about the mania. Click to read WallStreetBets Daily, by Quiver Quantitative, a Substack publication with thousands of readers. BNN Bloomberg speaks with James Kardatzke, who is taking advantage of that retail investor enthusiasm with his alternative data platform, Quiver Quantitative. The intense speculative behavior among retail investors is unnerving many on Wall Street yet again. Data-driven insights from WallStreetBets discussion. 24 hours on September 29, 2021, according to data from Quiver Quantitative. The stock has popped nearly 300% this week. 5 Retail traders who lurk in forums like Reddits WallStreetBets are back to. SIGN UP THIS SITE IS PROTECTED BY RECAPTCHA PRIVACY POLICY | TERMS OF SERVICE AMTD Idea Group’s ADR was also the single-most actively traded stock on the Fidelity platform Tuesday. Get the Morning Rundown Get a head start on the morning’s top stories. Indeed, the ticker HKD became the most popular mention on Reddit’s WallStreetBets chat room Tuesday, according to alternative data provider Quiver Quantitative. The wild trading is reminiscent of the GameStop mania of 2021 where a band of Reddit-obsessed retail investors managed to push up shares of the video game retailer and squeeze out short selling hedge funds. AMTD Digital generates revenue primarily from fees and commissions from its digital financial services business, and it only made $25 million in revenue in 2021, according to a regulatory filing. The monstrous move pushed its market cap above $310 billion as of Tuesday, making it bigger than Coca-Cola and Bank of America, according to FactSet. Two weeks later, the stock is up 21,400% to $1,679 apiece from its IPO price of $7.80. AMTD Digital, a subsidiary of investment holding company AMTD Idea Group, went public in mid-July with its American depositary receipts trading on the NYSE.

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The little-known Hong Kong-based fintech company saw its shares skyrocket 126% on Tuesday alone after experiencing a series of trading halts. 2 StrategyQuant 3 Orats 4 Quant Institute 5 Whale Wisdom 6 Polygon 7 Price Action Lab 8 Portfolio123 9 Quiver Quantitative 10 InvestVerte Quantpedia has partnered with the best Historical Data and Backtesting Software providers around the globe. 3, 2022, 11:46 PM +07 By Yun Li, CNBC Think the Official las Vegas Ivan Barbashev Ice Hockey Signature Dots Shirt Next meme stock mania is so 2021? Just take a look at AMTD Digital.

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