AMTD Digital (NYSE:HKD) stock is on the move Monday after insiders at the company promised not to sell shares on the public market for a few more years.
According to a press release, AMTD Group Inc., Dr. Calvin Choi and his holding company Infinity Power Investments Limited, AMTD IDEA Group, and executive officers of AMTD Digital won’t sell shares of HDK stock until August 2025.
AMTD Digital notes that this represents a lockup period of three years compared to when the stock went public. It says this is a dedication from its investors who have confidence in the long-term developments and growth of the company.
Investors will keep in mind that HKD is a meme stock that has undergone wild swings in the past. It’s possible that inside investors are hoping to curb this activity by promising not to sell shares before August 2025. They could also be doing this in reaction to the stock falling 61.4% over the last year.
HKD Stock Movement on Monday
AMTD Digital is already seeing a decent amount of trading on Monday, with some 1.3 million shares of its stock on the move. That’s quickly closing in on the company’s daily average trading volume of about 1.5 million shares. However, it comes as the stock falls 4,3% as of this writing.
Investors seeking out even more of the most recent stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market news traders need to know about on Monday! Some of that news includes what’s going on with shares of FibroGen (NASDAQ:FGEN) stock, MoonLake Immunotherapeutics (NASDAQ:MLTX) stock, and Lucid Motors (NASDAQ:LCID) stock today. All of that news is available at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
