Warren Buffett Announces Resignation as CEO! Berkshire Stock Plummets Over 5%, Sparking Market Concerns!
TradingKey - Warren Buffett's resignation as CEO of Berkshire Hathaway has led to a sharp drop in the company's stock price, falling over 5%, causing concerns in the market over the company’s future and outlook.
On Monday, May 5, Berkshire's stock dropped 5.12% to $512.15 per share. This decline reflects concerns over the company's outlook after Buffett's announcement.
Berkshire Hathaway stock price trend chart. Source: Google.
Last Saturday, May 3, at Berkshire's annual shareholder meeting, Buffett revealed he would step down by the end of the year. His designated successor, Greg Abel, has already been approved by the board.
Originally a textile manufacturing company, Berkshire was acquired by Buffett on May 10, 1965. Under his leadership, it gradually transformed into an asset management conglomerate. Since going public, Berkshire B shares have soared from $24 to $521, a staggering increase of 2100%.
Berkshire Hathaway stock price trend chart (1996-2025). Source: Google.
Jeremy Siegel, a finance professor at the University of Pennsylvania, stated, "Berkshire has outperformed the S&P 500 by nearly 2% over the past decade. I don't think any value investor can match Buffett's achievements." However, with Buffett leaving, the market's biggest concern is whether Berkshire can maintain its success.
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