AppId is over the quota
AppId is over the quota
Billionaire investor Warren Buffett moved Monday to demonstrate his belief that the shares of the company he leads, Berkshire Hathaway, are undervalued by the markets.
Buffett announced a plan to buy back both its Class A and B stock anytime they are trading within 10 per cent of book value.
That would be Berkshire’s first stock repurchase program since Buffett took over the firm in 1965. Although Buffett talked about buying back Berkshire stock once before, in the late 1990s, the firm never actually did.
Berkshire's Class A stock surged 5.4 per cent after the announcement, or $5,379.90, to $105,699.90. Its more affordable Class B shares rose $3.80, or 5.7 per cent, to $70.17, but were still trading 20 per cent below their 52-week high reached seven months ago.
Book value is a measure of how accountants value a company and is based on the estimated worth shareholders would get from the sales of the assets if a firm were liquidated.
At the end of June, Berkshire estimated its assets were worth $98,716 per Class A share after liabilities were deducted.
With files from The Associated Press Accessibility LinksView the original article here
0 komentar:
Posting Komentar