News ID : 50007
Publish Date : 2020/05/17 15:51
Buy billions of US giant stocks by Saudis

Buy billions of US giant stocks by Saudis


Due to the outbreak of the Corona virus and the decline in the value of shares of large American companies such as Facebook, Boeing and even the Saudi Starbox, they turned to buying billions of shares of these companies.

NOURNEWS- The Saudi Public Investment Fund has been buying shares in major US companies since March.

Due to the outbreak of Corona virus, the stock prices of many American companies have dropped significantly, and it seems that the Saudis are trying to seize this opportunity and collect their shares from the market.

Companies whose shares are now owned by Saudis include Facebook, Bank of America, Fiti Group Bank, Walt Disney Recreation Services Company, Marriott Hotel Company, Pfeiffer Pharmaceutical Company, Boeing Aircraft Company, and Kurdish Starbucks coffee shops.

The Saudis have also moved to buy lesser-known US companies such as Carnival and Live Nation.

It is unknown at this time what he will do after leaving the post.

All companies that the Saudis have bought stocks have seen their value fall by about 50 percent by March, and a number of them, including Facebook and Pfeiffer, have been able to make up for all the declines in recent months, even as the year begins to grow. Have.

The Saudi Public Investment Fund has also moved to buy stocks of oil companies that have experienced a significant drop in value due to the spread of the corona, followed by a sharp drop in global oil demand and a fall in oil prices.

The Saudis have bought $ 827.8 million from the company's share after falling to $ 290 from $ 480 at the start of the year to $ 296, the lowest level in 24 years, according to reports. .

The other two oil companies, Royal.com Shell and Total France, which have fallen 47 and 38 percent, respectively, have been among the companies that have caught the eye of the Saudis since the beginning of this year, and some of their shares are now owned by the Saudi government. contract.

Informed sources say that the Saudi family does not expect oil prices to rise in world markets in the coming months and that buying the shares of these companies will be of great benefit to them.

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