Trading was halted in several stocks as the NYSE investigated a technical issue around its volatility controls.
The NYSE said in a 10:11 a.m. ET update that it was investigating a technical issue related to the limit up and limit down bands, which are mechanisms to halt stocks for excessive volatility. It is unclear how many stocks are affected by the issue.
There were less than 4,000 recorded trades on the day for Berkshire's A-class shares when trading was halted. Trading continued in the B-class shares, which were down less than 1% on Monday morning.On normal days, Berkshire's original Class A shares carry one of the highest price tags on Wall Street. Last week, each one sold for about 45% more than the median price of a home in the U.S. Class A shares hit an all-time closing high of $634,440 on March 28.
That's because Buffett has never split the stock, as he wants to attract shareholders who are investment-oriented with long-term horizons. The Ben Graham protege has said that many Berkshire shareholders use their stock as a savings account. Berkshire issued Class B shares in 1996 at a price equal to one thirtieth of a Class A share to cater to smaller investors wanting a small piece of the Buffett's performance.
Buffett is the largest shareholder of Berkshire, owning more than 38% of class A shares, according to FactSet. The "Oracle of Omaha" pledged to give away the fortune he built at Berkshire, the Omaha-based conglomerate he started running since 1965.
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