This sounds weird and here we are talking about the US technology index Nasdaq which may in near term need an overhaul as the price of Berkshire Hathaway led by ace investor Warren Buffet has scaled to more than $4,21,000 per Class A share. As per the Wall Street Journal, the maximum possible number that Nasdaq for that matter can display is 4,294,96.7295 and share price of Berkshire Hathaway is very close to the highest level which the index can manage on its computer screen.
As of 5:56 EDT May 6, 2021, the class A share of Berkshire Hathaway Inc quoted at $422500.
Now because of the sharp spike in the share price of Berkshire Hathaway to such levels there was also a case that the share price of BRK.A was temporarily not being displayed on the Nasdaq. And this screening halt for the scrip is expected to last until the technology index upgrades its system.
It has been reported that the Nasdaq index would go for an upgradation on May, 17 to accommodate a number over $ 429,496.7295 on its screen.
Why sharp rise in the stock of Berkshire Hathaway?
The surge in the stock price of BRK.A is being owed to the company's history relating to share split. In the past 41 years, the company has not gone for stock split so consequently the share price kept on increasing.