SABIC stock hits 7-year high

The stock is currently trading up just under 1%

  
The headquarters of Saudi Basic Industries Corp (SABIC) is seen in Riyadh, Saudi Arabia April 19, 2016.

The headquarters of Saudi Basic Industries Corp (SABIC) is seen in Riyadh, Saudi Arabia April 19, 2016.

REUTERS/Faisal Al Nasser
Saudi Basic Industries Corporation (SABIC) recorded its highest price on Sunday since September 2014, at SR 134.60, according to Argaam.

The stock is currently trading up just under 1 percent, with trading exceeding 500,000 shares so far.

Today’s rise has pushed the stock up a staggering 120 percent since March 2020.

The Saudi company operates in the petrochemical, fertilizer, iron, steel and aluminum industries with Saudi Aramco the largest investor, with a share of 70 percent.

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