SpaceX gains as Kingdom falls 6%

Kingdom Holding's shares declined by approximately 6.4% in the Saudi market, despite SpaceX's stock rising by 19% on its first day of trading on Nasdaq. This disparity represents a shift in the investment landscape, as the company's stake in SpaceX now has a greater impact on its valuations. However, the market is currently focusing more on the potential for real profits from this investment rather than just its rising market value. Kingdom Holding owns around 42.4 million shares of SpaceX, valued at approximately 25.6 billion riyals, making it one of its largest assets. There is speculation about the possibility of converting this gain into liquidity quickly or over the long term.

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