Warren Buffett's Berkshire Hathaway rallies to 5-month high as investors cheer its flurry of recent purchases

Reuters

• Warren Buffett's Berkshire Hathaway saw its stock price hit a five-month high on Wednesday.
• The rally comes after the famed investor's company made a $10 billion acquisition, apparently repurchased more than $5 billion of its own stock, and shelled out close to $2.1 billion on Bank of America stock in 12 days.
• However, Berkshire "B" shares are still down 11% this year, while the S&P 500 is down about 2%.
• Visit Business Insider's homepage for more stories.

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Shares in Warren Buffett's Berkshire Hathaway rallied to a five-month high on Wednesday as investors cheered a flurry of buying activity from the famed investor.

Berkshire's "B" shares closed above $203 for the first time since March 6, when fears of the coronavirus pandemic were nearing their peak. The conglomerate's market capitalization has now rebounded more than 25% from its low on March 23 to about $494 billion.

See the rest of the story at Business Insider

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