Yesterday, an obscure Hong Kong-based company that trades on the New York Stock Exchange saw its shares rise 126% in a single day. Not bad...

But for a company that IPO'd less than three weeks ago, it was just the latest in a dizzying stock surge that even its executives couldn't explain.

In less than a month, shares of AMTD Digital have shot up around 21,000%, from $7.80 apiece to $1,679. If you're feeling some déjà vu, you're not alone...

Here's the deal: The Reddit army is back in action, it seems.

AMTD Digital is a firm you've almost certainly never heard of. The company is an arm of AMTD Idea Group, an investment bank based in Hong Kong that is also listed in New York and Singapore. The unit was founded in 2019, and provides fintech services in Asia, including a virtual bank called Airstar.

With all due respect to AMTD, it's borrrrrring.

And yet this little-known fintech firm, which brought in just over $25 million in revenue last year, now boasts a market cap of more than $310 billion. That's more valuable than Shell or Costco. It's on par with companies like Walmart and ExxonMobil, my colleague Michelle Toh reports.

Yesterday, an obscure Hong Kong-based company that trades on the New York Stock Exchange saw its shares rise 126% in a single day. Not bad...

But for a company that IPO'd less than three weeks ago, it was just the latest in a dizzying stock surge that even its executives couldn't explain.

In less than a month, shares of AMTD Digital have shot up around 21,000%, from $7.80 apiece to $1,679. If you're feeling some déjà vu, you're not alone...

Here's the deal: The Reddit army is back in action, it seems.

AMTD Digital is a firm you've almost certainly never heard of. The company is an arm of AMTD Idea Group, an investment bank based in Hong Kong that is also listed in New York and Singapore. The unit was founded in 2019, and provides fintech services in Asia, including a virtual bank called Airstar.

With all due respect to AMTD, it's borrrrrring.

And yet this little-known fintech firm, which brought in just over $25 million in revenue last year, now boasts a market cap of more than $310 billion. That's more valuable than Shell or Costco. It's on par with companies like Walmart and ExxonMobil, my colleague Michelle Toh reports.