It was a place where to gamble legally at a time when games of fortune were banned in most European countries. Of course, gambling in the famous Monte-Carlo Casino was the real reason many travelled to the tiny jurisdiction on the edge of the Mediterranean. To provide a cover of legitimacy for visiting Monte-Carlo, the company chose a name that made it sound like it was a normal holiday destination and a place where to mingle and recuperate. When it was founded in 1863, gambling was frowned upon. This is one unusual company, and it starts with its name: "Société des Bains de Mer et du Cercle des Etrangers à Monaco" means "Society of Sea Baths and Circle of Foreigners in Monaco". It's likely going to breach the EUR 100 threshold soon. To give you the good news first, it does look like the stock price has further to run over the coming 12-18 months. What then propelled the stock price to dizzying heights, and is there more to come? The majority of its shares are held by the country's ruling family, and SBM has long been famously disinterested in its shareholders or stock price. SBM (ISIN MC0000031187, Euronext:BAIN) is the publicly listed sovereign wealth fund of Monaco. While the Nasdaq index and other important markets went through a trough, the share of Société des Bains de Mer (SBM) reached a new record.
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