Berkshire Hathaway heads for 10th consecutive winning day. What's driving the stock
The conglomerate's Class A shares are on track for their 10th consecutive day of gains. That would mark their first 10-day rally since January 2018.
TL;DR
- Berkshire Hathaway's Class A shares are on track for their 10th consecutive day of gains, a streak not seen since January 2018.
- The stock hit an intraday high of $786,000, a level not seen since August 11.
- Investors are considering potential benefits under new CEO Greg Abel and the company's deployment of cash reserves.
- Recent investments include $330 million in Bending Spoons and an increased stake in Lennar.
- Higher short-term interest rates may benefit Berkshire due to its large cash holdings.
- A lack of hurricane landfalls in Q3 could positively impact its insurance business.
- Diverse energy investments through Berkshire Hathaway Energy might also be a contributing factor.
- Warren Buffett stepped down as chairman on September 18, with his son Howard succeeding him; Warren Buffett is now chairman emeritus.