(Reuters) – Hong Kong-based fintech firms AMTD Digital, Magic Empire Global and Top Financial Group tumbled on Tuesday after a meteoric rally this month that was reminiscent of last year’s meme-stock frenzy.

The obscure companies have recorded eye-watering gains just days after their US market debuts, with AMTD Digital climbing to as high as $2,555.30 last week from its debut price of $7.80 in July.

Hong Kong fintech firms plunge after stellar rise comes via ChinaTechNews.com.