Deep Fucking Value Says What?
The Mysterious $HKD Surge: Meme Stock Echoes in 2025?
By Market Insight Analysis | November 1, 2025
Introduction: A Blast from the Meme Past
On October 31, 2025, AMTD Digital Inc. (NYSE: HKD) erupted +74.56% in a single session — closing at $2.95 with record volume of more than 320 million shares after opening at $1.69. This wasn’t just a random pump. It looked like déjà vu from the chaotic 2021–2022 era that brought us GameStop (GME) and Bed Bath & Beyond (BBBY).
A viral post on Reddit’s retail trader community joked:
“So we're just gonna pretend $HKD didn’t appear out of thin air during the exact same window $GME started its split and $BBBY was mid-exorcism?”
This article explores the facts, timelines, and theories behind $HKD’s latest explosion.
Not financial advice (NFA).
What Happened to $HKD on October 31?
- Price Action: $1.69 → $5.47 intraday (+208%), then $2.95 close (+74.56%)
- After-hours: back down to $2.62
- Volume: 320M+ shares traded vs 5–10M average
Fundamentals behind the shockwave:
- Revenue up 1,085% YoY to $73.2M
- Profit up 49.5% to $51.5M
- Assets now $899M
Short interest estimates soared, at times rumored above the float — a known meme stock powder keg.
Source: Yahoo Finance – HKD
The Meme Stock Connections: GME, BBBY and “Swap Shenanigans”
Retail traders suspect $HKD isn’t just correlated — it's strategically timed.
- Low float and offshore structure
- Similar volatility windows to GME/BBBY
- Rumored use as a “swap settlement vehicle” for 2021 naked shorts
The “3-year swap cycle” theory claims that synthetic short positions created in 2021 are now expiring in Q4 2025 — forcing market makers to find liquidity.
Timeline of Suspicious Overlaps
| Date / Event | $HKD Move | GME / BBBY Tie |
|---|---|---|
| Jul 2022 – GME Splividend | +1,260% in 15 days | GME share structure update; $HKD IPO launches the same week |
| Aug 2022 – BBBY Mega-Squeeze | Post-peak flush | BBBY +600%; basket trading |
| Jan 2023 Momentum Run | +90% overnight | GME up +27% same week |
| May 2024 Gamma Ramp | +60% premarket | Roaring Kitty revival hype |
| Oct 31, 2025 | +74% on 320M volume | GME holding key $22 support |
Media grouping $HKD with meme revivals:
Nasdaq |
TechStock²
2025 Context: Meme Mania Reloaded?
It’s not just $HKD:
- $BYND reportedly up 10x in a week
- $GME consolidating around $22
- $BBBY shell (via new ownership structures) still trading
Retail sentiment is again linking these plays together — especially on X:
“Spark first. Ignition next.”
Meanwhile: Fed liquidity operations + high short leverage = combustible setup.
Analysis: Bullish Sparks or Bearish Noise?
Bull Case — approx. 70/30 probability
- Swap maturities force synthetic short unwinds
- Low float means violent upside potential
- GME upside targets $50+ on cascade
Bear Case
- Fundamentals explain the move — no conspiracy
- Retail hype fades fast
- Short interest overstated
Rating: Entertaining chaos — DYOR.
Conclusion: Connect the Dots, But Don’t Get Burned
$HKD’s Halloween fireworks remind us: the meme stock ghost isn’t dead — it’s resting. Markets love a plot twist, and retail traders often see smoke before Wall Street smells fire.
NFA. Trade smart.
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