Stocks To Watch: HKD, AVYA, MGAM
3:05 pm Friday, July 29th, 2022
Since its mid-July initial public offering, AMTD Digital (NYSE:HKD) stock has gone to the moon. At the time of writing, HKD stock trades at $390. At the company’s IPO on July 15, shares of the financial media company were listed at $7.80. Thus, the math on this IPO is rather incredible. Those who bought in at the debut price have booked gains of more than 4,500% in just two weeks. That’s right, a 45-bagger in this short amount of time.
On a bullish day in the market, it’s easy to find winners to focus on. With most sectors up, this is a market most investors are cheering right now. However, investors in Avaya (NYSE:AVYA) aren’t in the happy camp today. That’s because shares of AVYA stock have sunk more than 50% at the time of writing. This move comes after the company released its preliminary Q3 results yesterday. Accordingly, as many would expect, these numbers missed the mark.
Mobile Global Esports (NASDAQ:MGAM) — perhaps better known as “Mogo” — is making some waves on Friday. That’s as the company goes public and with MGAM stock soaring higher as a result. On Friday morning, Mobile Global Esports offered 1.5 million common shares at $4.00 per share. The initial public offering (IPO) will net the company roughly $6 million net of fees. Additionally, there’s a 30-day over-allotment option to purchase another 225,000 shares or 15%.
