As mentioned earlier in Wall Street News, do you remember that the company owned by stock guru Buffett, $Berkshire Hathaway-A (BRK.A.US)$Berkshire Hathaway is expected to be the next firm to hit the trillion-dollar market cap?
On Wednesday, March 16, Eastern Time, Berkshire Hathaway's Class A shares achieved an important milestone today: its stock price surpassed $500,000, setting a record closing high.
Berkshire Hathaway's Class A shares rose 1.3% on Wednesday, closing at $504,400 per share, marking the first time it closed above $500,000 and registering gains for the fourth consecutive day. The stock of the Omaha-based company has risen 10.95% this year, significantly outperforming the broader market.
In addition, Berkshire Hathaway's Class B shares closed at $336.11 per share on Wednesday, with a year-to-date increase as high as 12%.
Cathy Seifert, a Berkshire Hathaway analyst at CFRA Research, stated:
I believe the rotation into value stocks, combined with Berkshire Hathaway’s exposure in the energy and utilities sectors... along with investors’ enthusiasm for the company's active stock repurchases, has driven the stock’s performance.
The rise in stock price pushed Berkshire Hathaway’s market capitalization above $730 billion, surpassing Meta Platforms. $Meta Platforms (FB.US)$, becoming the only non-tech company among the top 10 most valuable public companies in the US.
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