Why Is AMTD Idea (AMTD) Stock Up 30% Today? AMTD Idea (NYSE: AMTD ), the company behind last month’s AMTD Digital (NYSE: HDK ) stock explosion, saw its stock briefly jump 27% overnight after it announced it will move cash from some of its real estate assets into the spinoff. The company said net proceeds of $268 million from a $500 million real estate sale will first be turned into AMTD Idea stock at $8.68 per share. Then, it will go into AMTD Digital at the equivalent of $208 per American depositary share. Before the announcement, AMTD stock was selling at $2.26 per share and HKD stock at $192. What’s Going on With AMTD Stock? The move may be less bullish than it seems. Li Ka-shing, whose CK Hutchison (OTCMKTS: CKHUY ) conglomerate originally backed AMTD Digital, distanced himself from the company after its historic run-up. CK Hutchison said it has “no business dealings” with AMTD Digital, adding it planned to sell the 4% of parent AMTD Group it did own. The bull run briefly made AMTD Digital chairman Calvin Choi worth more than Li himself .