Berkshire Hathaway Shares Soar 14% from January Low
As the financial world continues to furiously debate Warren Buffett's offerto reinsure billions of dollars worth of municipal bonds, shares of Buffett's holding company continue to recover from their January low.
Berkshire Hathaway closed today (Wednesday) at $143,980 each, up $4280, just over 3%, on the day. It's the first close above $140K this year and a two-month high for the stock.
It's also the first close above where Berkshire was trading just before Barron's put a big "Sell Buffett" headline on its cover in mid-December, prompting a 5% tumble in one day.
Today's close is also 13.9% above Berkshire's recent closing low of $126,400 on January 16. At that point, Berkshire was down 15.3% from its all-time closing high of $149,200 set the month before on December 10.
Right now, Berkshire is just 3.5% away from that all-time high.
While Buffett himself would say we shouldn't pay all that much attention to short-term moves, it is a nice recovery for a stock that was deep in a "correction" just a month ago, prompting some Berkshire bulls to call the stock a "bargain" at just over $126K a share.
BERKSHIRE'S FOURTH QUARTER PORTFOLIO REPORT COMING SOON
A reminder that we should be getting Berkshire Hathaway's SEC filing in the next few days on its portfolio holdings as of the end of the fourth quarter on December 31.
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