The market capitalization of the world’s most valuable company was blown away by $ 200 billion

Shares of Aramco, an oil conglomerate, have fallen to their lowest level since the IPO, amid concerns that political tensions in Iran have escalated over the past week.

Aramco’s shares have fallen nearly 2% since the killing of Iranian military leader Qasen Soleimani – affecting concern that Iran could counterattack, attack, and target oil-mining infrastructure. of Saudi Arabia – a major US ally in the region.

It is worth mentioning that the company’s shares fell despite oil prices rose 6% on Thursday to nearly 70 USD / barrel. This means that the company’s profits can increase significantly.

Aramco shares peaked on December 16 last year – a week after the IPO, but as of the second trading day, it has dropped 10%, blowing away $ 200 billion of the company’s market capitalization.

“Basically, Aramco is having huge value. It will be very difficult for them to maintain this value,” said an analyst.

After the record IPO, Aramco’s market capitalization reached US $ 1.7 trillion – becoming the largest company in the world.