Warren Buffet’s Berkshire Hathaway Bought Back A Record Number of Shares in The Third Quarter and Palantir Stock Skyrockets Leading Up to Friday’s Close
Back in March when the pandemic was announced, the shares of many companies took a serious tumble. Warren Buffet’s Berkshire Hathaway was no different with shares falling a total of 8% so far this year while the S&P 500 is up 10%.
The Oracle of Omaha decided to buyback a total of $9 billion of its own stock in the third quarter according to its latest earnings report. Berkshire repurchased more than $2.5 billion in Class A shares and about $6.7 billion in Class B stock.
The end of the week was crazy for software company Palantir. On Thursday, shares jumped 11% and on the following day, the stock closed the session up 17%. Since its Initial Public Offering or IPO, the stock is up 38%.
Palantir is co-founded by Peter Thiel. Thiel was one of the main Silicon Valley supporters for the Trump campaign back in 2016. Even with the chances for a Trump re-election slimming heading into the weekend, the stock still popped full blast. To be fair, legendary investor Peter Thiel did not support Trump’s campaign this year. Having a closer look at the company’s prospects is on the horizon!
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.