Berkshire Hathaway Inc (BRK.B)

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Berkshire Hathaway shares continue downward trend amid mixed market session
By: Investing.com | October 2, 2023

Berkshire Hathaway Inc . (NYSE:BRKa) shares extended their losing streak to five days on Monday, with a drop of 0.63%, closing $25.26 below its 52-week high achieved on September 19th, 2023. The stock's decline occurred during a mixed market session, as indicated by the performances of the S&P 500 Index and the Dow Jones Industrial Average.

The company, which has a market cap of 764.63B USD according to InvestingPro, is a prominent player in the Financial Services industry. Despite the recent losses, it's worth noting that the company has seen accelerating revenue growth and yields a high return on invested capital, as per InvestingPro Tips.

In the same session, competitor stocks Honeywell International Inc (NASDAQ:HON)., General Electric (NYSE:GE) Co., and Illinois Tool Works Inc (NYSE:ITW). also experienced declines, reflecting a broader downward trend in the market.

InvestingPro data shows that Berkshire Hathaway's revenue growth for the last twelve months (LTM2023.Q2) was at 14.99%, indicating a strong financial performance. Additionally, the company's gross profit margin for the same period stood at 33.08%, further highlighting the company's profitability.

While the stock has been on a losing streak, it's crucial to remember that the company has a perfect Piotroski Score of 9, according to InvestingPro Tips. This score is used to determine the financial strength of a company, with 9 being the highest possible score. This suggests that Berkshire Hathaway is financially robust, despite the recent downtrend in its share price.

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