Nasdaq’s computer system literally can’t handle Berkshire Hathaway’s sky-high share price – fr

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Nasdaq’s computer system literally can’t handle Berkshire Hathaway’s sky-high share price – fr



For decades, Warren Buffett refused to go their separate ways Berkshire Hathaway (BRKA) very high class A shares, which traded at $ 436,312 on Friday.

Nasdaq (NDAQ), the world’s first electronic stock exchange, could not risk sending the wrong stock prices. So he has decided to remove the cap, at least until he completes a fix that will be able to handle Berkshire’s high stock price.

After consulting with regulators, the Nasdaq temporarily suspended the broadcast prices of Berkshire class A shares on Tuesday. Just two days later, Berkshire’s stock climbed above the high the Nasdaq can handle for the first time.
While there doesn’t appear to be any impact on trading or pricing, the suspension has left Nasdaq brokerage and media clients to rely on the data stream in the dark. They should have looked elsewhere to find out the price of lightly traded stocks. On April 16, Nasdaq contacted customers to alert them to the impending problem and give them time to source the data elsewhere.

“Data integrity is of the utmost importance at Nasdaq, so we instituted a temporary measure … to ensure that no incorrect data is released before the completion of a technical upgrade,” said a Nasdaq spokesperson in a statement.

Nasdaq said real-time price information for Berkshire Class A shares will not be available until May 17.

Berkshire did not respond to a request for comment.

Although Buffett has repeatedly refused to split Berkshire’s Class A shares, the company introduced a more affordable Class B share that changes hands at just $ 289.

Companies often divide the price of their shares to make them more accessible to retail investors. It is arguably less necessary to do this today, as many online brokers now allow investors to buy fractional shares.

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