Aramco Shares Soar to Record High, Market Cap at $2.24T

Published February 24th, 2022 - 11:54 GMT
Aramco Shares Soar to Record High, Market Cap at $2.24T
With a $2.24 trillion market value, Aramco has dethroned Microsoft from it position as the second-largest valued company worldwide. (Shutterstock)

Unlike the majority of shares on the stock market that have been bleeding after Russia's attacks on Ukraine, Saudi Aramco's shares surged to the highest level since listing ($11.2), making its market value stands at $2.24.

The surge in the oil giant's shares came amid the rise in oil prices that hit $100.04 a barrel for the first time since 2014, and after the company closed a $15.5 billion pipeline deal on Wednesday with BlackRock, Hassana, other global investors.

Aramco
Source: Twitter

With a $2.24 trillion market value, Aramco has dethroned Microsoft from it position as the second-largest valued company worldwide, and it's now very close to the world’s most valuable company, Apple Inc. which is valued at $2.6 trillion.


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