VeriSign Inc., the provider of Internet domain registry and other services, saw its stock surge 5.4% in the 24 hours leading up to the Sunday night trading session. This significant upward movement came as Berkshire Hathaway, the conglomerate run by legendary investor Warren Buffett, continued to increase its stake in the company.
According to a recent SEC filing, Berkshire Hathaway acquired an additional 20,044 shares of VeriSign between December 31st and January 3rd. The purchases were made at an average price of nearly $205 per share, totaling approximately $4.1 million. With this latest acquisition, Berkshire now holds a 14% stake in VeriSign, comprising 13.3 million shares valued at around $2.7 billion.
The continued buying activity by Berkshire Hathaway, known for its value-investing philosophy, is seen as a vote of confidence in VeriSign's business and future prospects. The company's domain registry services and Internet infrastructure offerings are considered essential components of the modern digital economy.
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