Investors appear to like Berkshire Hathaway stock in the $60s and even the $70s more than they liked it at roughly $3500 a share.
Berkshire shareholders approved a 50-for-1 stock split of Berkshire's Class B shares yesterday. Trading began today.
The lower price is seen as an opening for small investors who couldn't afford the old four-figure price tag. (The Associated Press quotes a number of eager buyers in a piece this morning.)
After the first thirty minutes, the Baby Bs are up 4.8 percent to $72.88 from the split-adjusted close of $69.50 ($3475 per share pre-split.)
That puts them on track for their highest close since November, 2008.
At yesterday's meeting, Warren Buffett told shareholders that the increased trading volume and liquidity for the Class B shares after the split could make it the key driver of Berkshire's market value. "The B may be the tail that wags the dog now."
That may be the case today. Berkshire's Class A shares are also up almost 5 percent as of 10a ET.
There also appears to be another factor at work here.
Berkshire closed just over 4 percent higher in yesterday's trading.
The Class A shares picked up 2.6 percent on Tuesday. For the week so far, it is up over 10 percent.
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