[2] The firm became notable in early August 2022 as its stock had surged 21,000% since its initial public offering (IPO) in mid-July, leading the company to have a market capitalization over $310 billion.

[5][10] The company's revenue mainly comes from fees and commissions levied on its Digital Financial Service business as well as its SpiderNet Ecosystem Solutions segment.

[5][10] On 15 July 2022, the firm held an IPO on the New York Stock Exchange with a price of $7.80 and ticker symbol "HKD".

[2] One suggestion was that its ticker symbol of HKD on the NY exchange led traders to confuse it with the Hong Kong dollar.

[2][8] The phenomenon has drawn comparisons to the GameStop short squeeze and the AMC Theatres stock surge.