Berkshire Hathaway Stock Plunges After Warren Buffett Steps Down. Is This a Golden Opportunity to Buy?
There may never have been a smoother transition from an iconic CEO to a successor. Warren Buffett and Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) let markets know several years ago that Greg Abel would be Buffett's eventual replacement. Abel is currently vice chairman of Berkshire's non-insurance businesses.Buffett officially said this weekend that he would step down and hand the reins to Abel at the end of the year. The announcement came as a surprise, even though investors had known to expect it. Berkshire shares tanked Monday on the news, dropping nearly 7% before paring those losses.Investors might be wondering whether they should be buying or selling Berkshire Hathaway stock now.Continue reading
There may never have been a smoother transition from an iconic CEO to a successor. Warren Buffett and Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) let markets know several years ago that Greg Abel would be Buffett's eventual replacement. Abel is currently vice chairman of Berkshire's non-insurance businesses.
Buffett officially said this weekend that he would step down and hand the reins to Abel at the end of the year. The announcement came as a surprise, even though investors had known to expect it. Berkshire shares tanked Monday on the news, dropping nearly 7% before paring those losses.
Investors might be wondering whether they should be buying or selling Berkshire Hathaway stock now.
