Black gold

[The beef 675] [I'm an image] “I’d hate to be a journalist covering Saudi Aramco’s IPO...” - Jason [Read The Beef Online - Click Here]( Hey there carnivores, Markets were up slightly on some positive-ish news out of China. Today we’re diving deep on Aramco’s historic IPO pricing. Keep raging, Jeff & Jason [Image] [I'm an image] Black gold It’s been a loooong time coming, but Saudi Aramco finally priced its initial public offering on Thursday, officially becoming the largest IPO in history. Despite [a $1.7T]( (yes, T, not B) valuation, Crown Prince Mohammed bin Salman had this to say: "meh." If you remember, bin Salman was gunning for a $2T valuation. You know the old proverb… shoot for the journ-, I mean, moon... even if you miss... you’ll still hit a $1T+ valuation. MbS’ high hopes were dashed by investors who were skittish given a drop in demand for crude oil, geopolitical risks and people who drive Prius' (read: changing energy habits). Money in the bank Still, Saudi Aramco was able to sell 3B shares, [on its way to raising $25.6B](. For reference, that’s more than Alibaba brought in during its 2014 market debut... which raised just $25B. The deal isn’t set in stone, though. Aramco said last month that it was open to selling even more shares. Breaking down the doors Investors were chomping at the bit to get their hands on that sweet, sweet oil money. By Tuesday, demand for Aramco stock had reached almost $60B. That means that underwriters will likely flip the switch on an “overallotment option,” triggering the release of an additional 450M shares, which would bring Aramco's total haul up to $30B. For the investors that got in, Saudi Aramco gave them a little something to look forward to. The oil magnates promised to pay out more than $75B in dividends through 2024. Home field advantage When shares of Aramco begin trading next week don't expect Jim Cramer to be live with the Crown Prince at the opening bell. Shares will trade exclusively on the Tadawul, Saudi Arabia's stock exchange... for now. Aramco decided to keep it local rather than moving forward with the originally proposed dual listing in either New York or London. The bottom line... The cost of oil affects us all (well except your creepy uncle who lives off the grid), from suburban parents schlepping their kids to hockey practice to trillion-dollar Saudi oil juggernauts. And the driving force behind the cost of oil is The Organization of the Petroleum Exporting Countries, or OPEC. Coincidentally, OPEC met in Vienna yesterday and [agreed to deepen]( cuts on oil output by 40%. Saudi Arabia, which controls Saudi Aramco (and is a card-carrying member of OPEC), was pushing for those cuts ahead of its IPO. Shocker. Bottom line: “Internet money ain’t got sh*t on oil money.” [I'm an image] [I’ll just leave this replay of Kyle Dennis’ Raptor5 event]([from last night]([right here...]( [I'm an image] ☑️ Bail me out. Japan's Cabinet [approved a $120B stimulus package]( as the country struggles to grow its economy. A drop in exports (thanks US-China trade war!) combined with a typhoon that hit the country in October have been a real drag. Arguably the biggest hurdle the country faces, however, is that it is raising its sales tax from 8% to 10% nationally, causing its citizens to spend less. $50B of the stimulus dollars will be used to help rebuild areas impacted by the typhoon, and the rest will be split among local governments. Sooo basically the money is going to the Ron Swansons of Japan. ☑️ One and done. While most retailers are struggling to keep from closing their doors, Dollar General [is opening even more]( brick and mortar outlets. The discount retailer announced that it plans to open 1k stores in 2020. DG currently boasts 16k locations throughout the US and appears to be filling a void in towns where Walmart can't justify a hangar-sized retail outlet. Dollar General is flourishing, with profit up 11% vs. last year. ☑️Chiming in. Big banks, you've been warned. Chime is officially on the scene. The [branchless bank secured]( a $500M Series E funding round that values the company at $5.8B. That's about 4x more than its valuation of $1.5B just nine months ago. After Uber and WeWork's flops, Chime is showing that investors are still willing to spend when companies actually make money. The investment isn't without risk, however. Big boys like Google and Apple are elbowing their way into the banking space. RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 Neither Raging Bull nor RagingBull.com, LLC (publisher of Raging Bull) is registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. 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