Banker’s Tiny Firm Becomes Bigger Than Goldman With 14,000% Gain (2)

The world, apparently, has a new financial giant.

AMTD Digital Inc., a Hong Kong-based company that listed in New York less than three weeks ago, has surged so much that the combined market value of its Class A and Class B shares was more than $203 billion as of Wednesday’s close. That means the firm — which develops digital businesses, including financial services — is worth more than Wells Fargo & Co., Morgan Stanley and Goldman Sachs Group Inc., despite reporting just $25 million in revenue for the year ended April 2021.

At least on paper, that makes it the fifth-biggest financial ...