Why did Berkshire Hathaway stock rise on 7 October?
Written after the close on
Berkshire Hathaway +0.14% · S&P 500 −0.24%
Berkshire Hathaway rose slightly, helped by its expanding homebuilder bet. Over the last five trading days Berkshire Hathaway rose sharply, in line with a clearly higher S&P 500 and ahead of a slightly higher financials sector. The likely driver was Berkshire's third large investment in U.S. homebuilders this year, after it lifted its Lennar stake by 94% in the third quarter and bought more Lennar shares in early October, even as Lennar hit a 52-week low. Watch the early-November earnings report for the next update.
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