Newly minted meme stock darling AMTD slides after eye-popping surge

Shares of $AMTD Digital (HKD.US)$ plunged 40% on Wednesday to snap an eye-popping rally fueled by retail investors this week that briefly took the Hong Kong-based fintech's market value past that of $Meta Platforms (META.US)$ .
The company's market capitalization closed above $300 billion in a 128% jump on Tuesday, reminding investors of the meme stock mania last year that drove record rallies in shares of companies such as $GameStop (GME.US)$ and $AMC Entertainment (AMC.US)$ .