{"id":113834,"date":"2021-05-07T16:49:59","date_gmt":"2021-05-07T16:49:59","guid":{"rendered":"https:\/\/fin2me.com\/?p=113834"},"modified":"2021-05-07T16:49:59","modified_gmt":"2021-05-07T16:49:59","slug":"greg-abel-to-succeed-warren-buffett-at-berkshire-hathaway","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/greg-abel-to-succeed-warren-buffett-at-berkshire-hathaway\/","title":{"rendered":"Greg Abel to succeed Warren Buffett at Berkshire Hathaway"},"content":{"rendered":"<p><cite>New York (CNN Business)<\/cite>The world&#8217;s most famous electronic stock market can&#8217;t compete with the stubbornness of a 90-year-old billionaire. <\/p>\n<p>For decades, Warren Buffett has refused to split <span>Berkshire Hathaway&#8217;s<\/span> <span>(<span>BRKA<\/span>)<\/span> sky-high Class A shares, which traded hands Friday at a staggering $436,312.<br \/>\nBuffett&#8217;s persistence finally caused a Y2K-like problem this week at Nasdaq. <\/p>\n<ul><\/ul>\n<p>Here&#8217;s the issue: Nasdaq&#8217;s 32-bit computer system can&#8217;t handle prices above $429,496.7295. And Berkshire&#8217;s Class A shares got to within 2% of that level on Monday. <\/p>\n<ul><\/ul>\n<p><span>Nasdaq<\/span> <span>(<span>NDAQ<\/span>)<\/span>, the world&#8217;s first electronic exchange, couldn&#8217;t risk sending out erroneous stock quotes. So it decided to pull the plug, at least until it completes a fix that will be able to handle Berkshire&#8217;s lofty share price.<\/p>\n<p>After consulting with regulators, Nasdaq temporarily suspended broadcasting prices for Berkshire&#8217;s Class A shares on Tuesday. Just two days later, Berkshire&#8217;s stock climbed for the first time above the maximum Nasdaq can handle.<br \/>\nWhile there didn&#8217;t appear to be an impact to trading or pricing, the suspension left Nasdaq&#8217;s brokerage and media clients relying on the data feed in the dark. They would have had to turn elsewhere to discover the price of the thinly traded shares.<br \/>\n&#8220;Data integrity is of utmost importance at Nasdaq, we therefore instituted a temporary measure&#8230; to ensure that no incorrect data is disseminated prior to the completion of a technical upgrade,&#8221; a Nasdaq spokesperson said in a statement.<br \/>\nNasdaq said the real-time price information of Berkshire&#8217;s Class A shares won&#8217;t be available until May 17. No other stocks are likely to face similar issues before then because nothing trades for nearly as much as Berkshire&#8217;s Class A shares.<br \/>\nBerkshire did not respond to a request for comment. <\/p>\n<ul><\/ul>\n<p>Although Buffett has repeatedly declined to split Berkshire&#8217;s Class A shares, the company has introduced a more affordable Class B share that changes hands at just $289.<br \/>\nCompanies often split their share prices to make them more accessible to retail investors. There is arguably less of a need to do that today though because many online brokerages now allow investors to buy fractions of a share.<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2021\/05\/07\/investing\/buffett-berkshire-nasdaq\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (CNN Business)The world&#8217;s most famous electronic stock market can&#8217;t compete with the stubbornness of a 90-year-old billionaire. For decades, Warren Buffett has refused [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":113833,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Greg Abel to succeed Warren Buffett at Berkshire Hathaway - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/greg-abel-to-succeed-warren-buffett-at-berkshire-hathaway\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Greg Abel to succeed Warren Buffett at Berkshire Hathaway - Fin2me\" \/>\n<meta property=\"og:description\" content=\"New York (CNN Business)The world&#8217;s most famous electronic stock market can&#8217;t compete with the stubbornness of a 90-year-old billionaire. 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