The Tel Aviv Stock Exchange's total market capitalization surpassed $1 trillion for the first time, according to The Zioneer. The milestone was driven largely by the local listing of Palo Alto Networks in February, whose shares have gained 135% since then. Israel joins an exclusive group of 20 global exchanges with a market cap above $1 trillion.
The Tel Aviv Stock Exchange reached a historic milestone on Friday, with its total market capitalization surpassing $1 trillion for the first time, according to The Zioneer. The market cap rose from $665 billion to over $1 trillion, driven largely by the listing of Palo Alto Networks on the Tel Aviv Stock Exchange in February. The cybersecurity firm's shares have surged 135% since its local debut, contributing significantly to the overall market value.
Israel now joins an elite group of 20 stock exchanges worldwide with a market valuation exceeding $1 trillion. The achievement comes amid a broader global trend of soaring equity valuations, with companies like SpaceX and Amazon reaching trillion-dollar milestones in recent months, as The Zioneer has previously reported.
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