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International Holdings is on a rollMENA

International Holdings is on a roll

A mysterious series of events has had investors wondering lately: what the heck is going on with IHC?!

Shares of International Holdings Co. PJSC (IHC) have skyrocketed over 70% since March 22 and are so far counting 13 days of uninterrupted gains. The stock rise even pushed the company’s value above $40b for the first time ever… yet nobody knows why! At this point, IHC is worth more than FAB, the UAE’s largest bank.

The conglomerate invests across all sorts of industries, ranging from space exploration to the local fish sector — this is why analysts are so reticent to guess what’s behind the latest boost in share price. Either way, shareholders are certainly not complaining.

why it matters
IHC itself is refusing to comment on the stock price, claiming it will stick to its strategy. Given that the multinational giant saw its profit grow by 159% in 2020, we’d say the ambitious approach is working out pretty well for them so far!