Too high for NASDAQ: Berkshire shares outpace computers

May 07, 2021 01:22 PM AEST | By Furquan Moharkan

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Too high for NASDAQ: Berkshire shares outpace computers — Image source: Representative Image. © Jarretera | Megapixl.com

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Summary

The Class A shares of Berkshire are trading at US$435,120

This is higher than what NASDAQ computers can record

The company has never had a stock split.

The Class A shares of Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A) have surged to US$435,120 – way higher than the computers of NASDAQ could record.

The computers at the exchange are configured to store a maximum price of US$429,496.7296 as its algorithm saves stock prices as a 32-bit number. This algorithm aims at taking up lesser memory and making software more efficient.

With Berkshire Hathaway’s Class A shares having crossed the above mentioned limit, the NASDAQ website says “Data is currently not available” about the company for the 6 May.

Earlier in March, the stock market operator IEX Group Inc. had stopped accepting orders for these shares "due to an internal price limitation within the trading system."

Also Read: Warren Buffett Names Greg Abel As His Successor at Berkshire Hathaway

Even as NASDAQ and IEX are working to revamp their systems, at the New York Stock Exchange (NYSE), where the investment company is listed, will not be affected by the rise in the price of Berkshire’s Class A shares.

Class A shares are a type of common shares that traditionally have more voting rights than the Class B stocks. Notably, Berkshire’s Class A shares are the costliest shares in the world, as company has never had a stock split. The class B shares of the company are currently trading at far lower level of US$289.71 each.

Earlier this month, the company had reported net profit of US$11,71 billion.

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