No good vibes on this company

The public excitenent about $AMTD Digital (HKD.US)$ is over its digital platform, a “metaverse” called AMTD SpiderNet. The idea is to connect all AMTD’s financial operations and intellectual property into a controlled digital ecosystem.
SpiderNet was launched in February and is mainly used by fintech entrepreneurs and internet celebrities. It collects fees and commissions from both sides in the ecosystem.

Frankly, I don't have a good vibe over this stock. First, one of its pre-IPO series investots is CK Hutchison, which founded parent company AMTD Group. I never liked listed shares of the Li Ka-shing conglomerate companies. No doubt that he is a successful businessman; he and his son definitely knows how to do rug-pulls and trap retail investors. None of my friends (hobby or professional) have good experience on listed-companies they own.
You'll be rolling your eyes when you get to know that AMTD Digital only raised $125 million in its IPO and has slowing revenue growth but high margins. The stock's momentum is definitely unsustainable.
Some may argue that investors appear to like its business focus on Southeast Asia; to me, it is just another game of the capital. To join the fun, you need a BIG HEART and be prepared to lose them all. Most importantly, do not leverage!