For the seventh time this year, a tiny US listing by a company based in China or Hong Kong is seeing a wild price surge after its initial public offering.
This time, it’s Hong Kong’s Magic Empire Global Ltd.. climbed 2,325% above its $4 IPO price to close at $97 in its debut session Friday. It’s the latest in a string of similar moves that includes AMTD Digital Inc. -- the firm that became bigger than Goldman Sachs after surging by 14,000%.
