Saudi Aramco Stock Briefly Hits a $2 Trillion Market Cap on Its Second Day of Trading
Author By Sophia VidaPosted on On just its second day of public trading, Saudi Aramco did something sensational. The stock hit a nearly $2 trillion market cap.
Shares of the company saw a 10% gain to 38.7 riyals apiece (or $10.32) but had fallen back to 37 riyals a few minutes after the market open.
This figure was almost $1 trillion higher than the world’s next biggest companies Microsoft and Apple.
The company had a valuation of $1.88 trillion on its first day of trading.
Saudi Aramco is the world’s most profitable company and Saudi Arabia’s crown prince Mohammed bin Salman has long wanted a $2 trillion valuation for the company.
