Hong Kong's little-known AMTD Digital tops Alibaba in market cap

Stock seen as bubble ready to pop with price-to-earnings ratio of 6,000

20220803N Alibaba NYSE

AMTD Digital surpassed Alibaba Group in market capitalization on Aug. 2.  © Reuters

NORIYUKI DOI, Nikkei staff writer

SHANGHAI -- AMTD Digital, a little-known fintech company based in Hong Kong, has been skyrocketing since it went public in the U.S. just over two weeks ago, surpassing Chinese e-commerce giant Alibaba Group in market capitalization.

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