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If you thought the action meme craze was over from GameStop, AMTD Digital proves you wrong. On Tuesday, the asset price increased by more than 120% and trading was suspended several times. After the IPO, the project exploded. Strongly reminiscent of a GameStop episode.
AMDD Digital Madness Recap!
AMTD Digital is a Hong Kong-based fintech company. If you’ve never heard of it, nothing serious. A few days ago, little-known fintech made headlines. And for good reason: since the mid-July IPO The share price went up nearly 6000%. The stock started at $ 7.80 and is now trading at $ 925. At its highest level during the session on Tuesday, August 2, the asset even surpassed $ 2,500, more than doubling its price for the session. HKD shares lost more than 20% of their value during today’s session.
Extreme volatility reminiscent of a GameStop episode. Other companies like Robinhood have also faced the rage of meme headlines.
Good to know : The GameStop case began in January 2021. Through the Reddit forums, thousands of investors have come together to buy this asset in bulk. The goal was clear: to outperform the various investment funds which at the time were betting heavily on the group’s stock decline due to financial difficulties. GameStop action is skyrocketing. First, the symbolism of this story is to show the financial world that even small investors can interfere with their plans.
In WallStreetsBets Reddit chat, HKD was the most popular mention. quantitative quiver. The ingredients that made GameStop an action meme still seem to exist.
AMTD is bigger than Coca-Cola!
If the last two sessions seem correct, the AMTD has surpassed the giant Coca-Cola in terms of evaluation in the session the day before yesterday. With over $ 300 million, the Singapore-based company just surpassed Coca Cola with its $ 275 million valuation.
Heresy knowing that AMDD Digital only had $ 25 million in revenue in 2021. Heresy, reminiscent of Tesla stock, but without the long-term potential offered by the Californian brand. This state of affairs seems to be worrying the markets and some individuals again. Jay Clayton, former chairman of the United States Securities and Exchange Commission, warns of the risk of losing these types of assets:
As we have learned over the past couple of years, events like this create opportunities for profit, but also a great risk of what I would call losses, especially for our retail investors.
Have fun with memes for digital assets!
If there are some very volatile meme titles, there is an industry that is piling them up: digital assets. The Dogecoin or Shiba Inu projects are also the standard bearers of this very existing meme culture in the cryptocurrency universe.
Today in the token meme category we hear a lot about the Tamadoge project. Based on Tamagotchi, this project allows users to take care of a virtual pet presented as an NFT. Thanks to the in-game currency, the TAMA token, users can feed, care for their favorite creature and watch it evolve in the game. The Tamadoge ecosystem even plans to use the solution in the metaverse.
The token is currently available through a presale. In order to purchase an asset, a digital wallet such as MetaMask or Trust Wallet is required. To date, the promoters have raised over $ 150,000 from this presale. In order to purchase a token, you can pay in ETH, USDT or fiat currency.
See also: How to buy Tamadoge (TAMA)?