Shares of Warren Buffett's Berkshire Hathaway rallied above $100,000 today (Monday) for the first time since early January. The stock has been mostly trading in five digits since last November, when it closed below $100,000 for the first time in just over two years.
Berkshire traded as high as $100,501 in today's session before closing at $100,000, an increase of 3.1 percent on the day.
We haven't had an intraday or closing high above today's levels since January 6. Berkshire is now up 38.1 percent from its closing low this year of $72,400 on March 5 and 33.0 percent below its all-time closing high of $149,200 on December 10, 2007.
Three weeks ago as Berkshire's stock price was in the mid-$80Ks, Barron's called it a "bargain" based on a relatively low price-to-book ratio and said a price target of $110,000 in the next year "doesn't seem outlandish."
Buffett has been getting some positive headlines recently, including paper gains of over $2 billion on his Goldman Sachs warrants and $1 billion on Berkshire's investment in a Chinese electric car maker.
Worries about Berkshire's multi-billion dollar bets against long-term declines in global stock indexes have also eased as markets rebound. (The S&P closed above 1000 today for the first time since November.)
Berkshire has been in positive territory for the year since late last week, extending its YTD gain to 3.5 percent at today's close. That's still well behind the benchmark S&P 500's advance of 11.0 percent on the year.
Current Berkshire stock prices:
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