Berkshire hits record highs despite Warren Buffett 2025 CEO concerns
Berkshire Hathaway's stock just broke records, shrugging off any worries about Warren Buffett stepping down as CEO in 2025.
On Thursday, Class A shares closed at a massive $820,500 and Class B shares at $546.97, both all-time highs.
Even after a quick dip on Friday, the stock is now up about 0.5% from before the news.
Class B shares up almost 9%
Berkshire's B shares have gained almost 9% since the start of October alone, narrowing its gap with the S&P 500 to less than four points; pretty impressive when tech stocks are sliding.
A big reason? The company has more than $350 billion in cash and equivalents on its balance sheet and is seen as a safe bet right now.
New CEO Greg Abel is already spotting opportunities in energy for AI data centers, and analysts say Berkshire's diverse businesses and strong cash flow make them confident in his leadership going forward.