21,000% surge of little-known AMTD Digital is latest meme stock craze.

$AMTD Digital(HKD.US)$
Wild swings in the share price of a largely unknown Hong Kong-based fintech company in recent days have reminded some analysts and traders of the "meme stock" craze, which grabbed headlines and stoked controversy early last year.

On Tuesday, the stock price of online financial services company AMTD Digital was more than 21,000% above the price at its initial public offering last month.

The price fell in recent days to end the week well below the earlier peak but still, as of market close Friday, the stock price stood at $721, which amounts to a 127% jump for the week and a 9,143% increase since its IPO. The stock debuted on the New York Stock Exchange on July 15 at $7.80 per share.

At the height of AMTD Digital's stock rise on Tuesday, the company reached a valuation of $310 billion, making it larger than Coca-Cola and Bank of America, according to FactSet. The nearly 3-year-old company brought in just $25 million in revenue last year, according to a regulatory filing.