Updated: AMTD Moonshot IPO, Shades of 2015

The cycle bells are ringing in my ears. The yuan was already giving me signs of 2015. Shares of Baofeng exemplified the Mainland China stock bubble in 2015. It has since delisted or acquired, I forget off hand what happened to them. I did a typo when inputting the symbol though, and got another stock (300841) that soared in the 2020 bubble. When I look at AMTD (HKD) I immediately thought of Baofeng in 2015. I'm also thinking: Chinese money. Whether it marks a peak or trough I cannot say, although context says peak to me. Talking about any macro signal from this event. The stock itself is also insanely overvalued.

Reporters and analysts all told readers that AMTD’s stock momentum is unsustainable. The stock’s behavior early on Aug. 1 justifies skepticism.

I’ve covered technology for over 40 years and AMTD is the most incomprehensible set of buzzwords and hype I’ve ever encountered. That doesn’t mean the company can’t succeed. It just means the current price guarantees success when the company has achieved very little.

What Is Going on With AMTD Digital (HKD) Stock Today?

Update: I was thinking of this manipulation as well: the stock WINS soared in 2016 for no reason. One of several U.S.-listed Chinese companies that similarly soared for no reason.

Robinhood Buyers Pour Into Fraud Stocks Amid Thursday Market Carnage

Robinhood traders were undeterred by the pullback in stocks on Thursday.

Wins Finance holdings (WINS) has seen spectacular runs in the past and it happened again on Thursday.

Robinhood customers were buying on the way up. Unfortunately, it is down about 40 percent in pre-market.

WINS has been in the news before. See: Chinese Finance on the Nasdaq

I've seen a number of Chinese stocks soar in recent days, including JFIN and DUO. Who is running these pump and dump schemes?

Chinese Finance on the Nasdaq

Bloomberg: This Chinese Stock Soared 4,500% on Nasdaq and No One Knows Why

Shares of Wins Finance Holdings Inc., a company that guarantees loans for small businesses in China and leases equipment to them, have soared as much as 4,555 percent since debuting on Nasdaq in 2015. The firm’s market value surpassed $9 billion in February, about four times as much as LendingClub Corp., an online lender with 50 times the revenue. Even Wins said in a release that it had no idea what drove the surge in its stock, which boasts the best performance in the Nasdaq Composite Index over the past 12 months.

...Wins had operating revenue of $9.8 million in the fiscal year that ended in June and does about two-thirds of its business in Jinzhong, a city in Shanxi province, a coal mining center, according to its most recent annual report. That was a drop of 34 percent from the previous year.