First Trillion Dollar Company

[JFN1]

Wow.

PetroChina became the first company with a $1 trillion market capitalization when its 4 billion shares nearly tripled in value Monday over their initial public offering price. The IPO raised 66.8 billion yuan ($8.94 billion) — a record for a mainland exchange.

Of course, it was only for a few hours:

Overnight on Wall Street, PetroChina's New York-listed shares fell $32.96, or 13 percent, to close at $222.10. In Hong Kong, where the company is also traded, share valued at about 17.50 Hong Kong dollars are down 11 percent since Friday's close.

Based on those values, and Tuesday's share price in Shanghai, the company's market capitalization would be about $930 billion.

That's still by far the world's largest. No. 2 Exxon Mobil Corp. is valued at $488 billion.

Unreal...

[lostnotforgotten]

1. Due To Population Size And Ratios There Many More Geniuses In China Than The US

Put that in your peace pipe Freepers!

[Doctor Cynic]

2. Expect to see more and more Chinese and Indian companies to do this. n/t

[Canuckistanian]

3. I, for one, welcome our new Sino-Overlords

Now, where HAS my Mandarin-English dictionary gone?

[lurky]

4. Is China having a stock bubble?

Reminds me of the dot-com days when Internet startups were valued way beyond what they were earning. Could this company really be worth a trillion dollars?

[Art_from_Ark]

5. In a word,

No

[BadgerLaw2010]

7. That's one word for it.

[flashl]

6. bookmarked. n/t