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Today, the Class A shares of the Berkshire Hathaway of Warren Buffett broke through the $300,000 barrier for the first time.
The stock of the company increased by 1.26 percent in New York morning trading after soaring by over 20 percent this year.
Shares were bumped higher over anticipations that the tax overhaul of Donald Trump, the President of the United States, would soon pass into law.
Yesterday, Trump said that the $1.5 trillion worth of tax cuts was “just days away” from being imposed. The major tax reform will include a large tax cut for various businesses in the United States including Berkshire Hathaway, with the headline tax rate declining from 35 percent to 21 percent.
The shares of Berkshire first broke through the $200,000 mark around three years ago, and they hit the $250,000 mark in February of this year.
The senior market analyst at City Index, Fiona Cincotta, stated: “The US markets continue to push northwards, with the Dow eyeing 25,000, a milestone that it could reach should Congress pass the US tax cuts bill. These are some astonishing moves that we have seen recently, given that the Dow only passed through 24,000 three weeks ago and now 25,000 could be on the table.”