AMTD Digital Inc. (NASDAQ: HKD) had investors on the edge of their seats Thursday with a 3.3% climb, reaching $3.17. However, the real fireworks ignited after the closing bell, as the stock soared an astonishing 23% in early premarket hours, peaking at $3.90.

This surge in premarket activity is accompanied by an unprecedented surge in trading volume, surpassing 3 million shares compared to the usual average of under 400,000 shares. Such a surge in volume signals massive bullish interest, with many eagerly anticipating a potential breakout once the $4 mark is breached.

Market Sentiment

Despite the lack of any substantial news catalyst driving this surge, investors remain optimistic, riding the wave of bullish momentum. However, some caution that a profit-taking dip could be looming on the horizon in the coming days.

AMTD Digital, Inc. is a French holding company known for its development of digital solutions applications under the AMTD SpiderNet platform. The company operates across various segments, including Digital Solutions Services-Non Financial Services, Digital Solutions Services-Financial Services, Hotel Operations, Hospitality, and VIP Services, as well as Digital Media, Content, and Marketing Services.

Post-Buy Back Momentum

Investor enthusiasm is palpable, with after-hour trading volume representing approximately ten days of average trading volume. Furthermore, with only 100K shares available for shorting and the completion of the company's buyback program, bullish sentiment is further reinforced.

Looking ahead, anticipation mounts for tomorrow's trading session, with expectations of high volume potentially exceeding 30 million shares. Investors reminisce about the company's historical performance, characterized by periods of stabilization followed by meteoric rises. Some foresee the stock's trajectory reaching astronomical heights, echoing previous surges witnessed in August and September of 2022.

Conclusion

In conclusion, the premarket surge in AMTD Digital Inc. has ignited excitement among investors, fueled by surging trading volume and bullish sentiment. While cautionary voices warn of a possible pullback, many remain optimistic about the stock's potential, eagerly awaiting tomorrow's trading session.