Israeli shares traded on Wall Street reach massive $300 billion valuation

Tech firm WalkMe’s initial public offering of shares has brought the total valuation of the shares of the 85 Israeli companies traded on Wall Street to $300 billion, Calcalist reported Wednesday, citing data compiled by investment bank Oppenheimer Israel.

The figure represents a $100 billion jump in value since the start of 2021, of which $75 billion is the total value of new companies that have issued shares on Wall Street or have merged with special purpose acquisition companies (SPACS). The remaining $25 billion is a surge in value of preexisting Israeli stock on the US markets.

The 85 Israeli firms with shares traded in New York have seen a 12% jump in value since the start of the year – outperforming the Nasdaq index, which has risen 9% since January, the data shows.

The surge in the aggregated value of the shares of Israeli firms traded in the US accounts for 75% of Israeli GDP and is higher that the total value of the shares of the 507 companies traded in Tel Aviv (of which 52 are dual-listed firms). The total value of these publicly traded firms in Tel Aviv was NIS 962 billion ($295 billion) as of end of day Wednesday.