Rome – A top stock in Italy is trading for more than €1 billion at one point in time.
Zm, the Italian arm of Intel, is currently trading at around €100 billion.
That’s almost double the value of the Italian economy.
The stock has been trading at over €100 a share for years and has even more potential as it is expected to have more than $200 billion worth of sales by 2020.
However, the stock is not cheap and its price has been steadily declining for years.ZM shares have dropped from around €70 a share in early 2017 to around €60 now.
In 2017, the company was worth around €15 billion, according to Euromonitor.
However the current value is less than half that.
It’s now trading at €2.50 a share, €2,000 less than the current market price of €25.60 a share.
That would be a price of more than two-thirds of the entire Italian economy, according the Financial Times.
The news comes amid the eurozone’s debt crisis, which is threatening the country’s financial stability.
Italy’s prime minister, Matteo Renzi, has warned that a government shutdown in October would result in the country becoming bankrupt.
The government has since cut its budget deficit to less than 1.6 percent of gross domestic product from a peak of nearly 3.6%.
The eurozone’s central bank has said it is prepared to accept any possible budget measures.