Why Berkshire Hathaway Stock Is Sinking Today

Shares of Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) are falling on Monday. The company's stock lost 4.3% as of 11:45 a.m. ET today and as much as 6.8% earlier in the day. The leg down comes as the S 500 lost 0.5% and the Nasdaq Composite lost 0.7% on the day.

Warren Buffett, the legendary investor and chief of Berkshire Hathaway, asked the board to replace him as CEO at the company's annual shareholder meeting on Saturday.

After leading the company for 60 years, Buffett announced he will step down as CEO. His chosen successor, Greg Abel, will take over on Jan. 1, 2026. Although the announcement by the 94-year-old to step down wasn't entirely unexpected, its timing was.

Source Fool.com