Aramco has a history of implementing very large transactions prior to major market moves. In March 2008 Aramco sold their stake in Ashmore. Two months later the stock market peaked and started to fall for the remainder of 2008. On December 11, 2019, Aramco shares started trading with its initial public offering. Two months later the stock market peaked and collapsed in February and March of 2020. On February 13, 2022 Saudi Arabia transferred Aramco shares worth $80 billion to the state’s sovereign wealth fund. Following this trend would mean that a stock market peak in mid-April 2022 would be expected prior to a significant decline in 2022.
March 18, 2008
Aramco sells Petron stake to Ashmore for $550 mln
December 6, 2019
Saudi Aramco shares to start trading December 11: Tadawul exchange
February 13, 2022
Saudi Arabia transfers Aramco shares worth $80 bln to state fund