Berkshire Hathaway shares continue downward trend amid mixed market session By Investing.com

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Berkshire Hathaway shares continue downward trend amid mixed market session

Published Oct 02, 2023 22:32

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Berkshire Hathaway shares continue downward trend amid mixed market session

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Berkshire Hathaway Inc . (NYSE:BRKa) shares extended their losing streak to five days on Monday, with a drop of 0.63%, closing $25.26 below its 52-week high achieved on September 19th, 2023. The stock's decline occurred during a mixed market session, as indicated by the performances of the S&P 500 Index and the Dow Jones Industrial Average.

The company, which has a market cap of 764.63B USD according to InvestingPro, is a prominent player in the Financial Services industry. Despite the recent losses, it's worth noting that the company has seen accelerating revenue growth and yields a high return on invested capital, as per InvestingPro Tips.

In the same session, competitor stocks Honeywell International Inc (NASDAQ:HON)., General Electric (NYSE:GE) Co., and Illinois Tool Works Inc (NYSE:ITW). also experienced declines, reflecting a broader downward trend in the market.

InvestingPro data shows that Berkshire Hathaway's revenue growth for the last twelve months (LTM2023.Q2) was at 14.99%, indicating a strong financial performance. Additionally, the company's gross profit margin for the same period stood at 33.08%, further highlighting the company's profitability.

While the stock has been on a losing streak, it's crucial to remember that the company has a perfect Piotroski Score of 9, according to InvestingPro Tips. This score is used to determine the financial strength of a company, with 9 being the highest possible score. This suggests that Berkshire Hathaway is financially robust, despite the recent downtrend in its share price.

For more insights like these, consider subscribing to InvestingPro. The platform offers 12 additional tips for Berkshire Hathaway Inc. Cl B, helping investors make informed decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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