blog:T-shirt manufacturer parent shares hit $100,000
Shares in Berkshire Hathaway, parent of t-shirt manufacturer Fruit of the Loom, hit six figures earlier this week in trading on the New York Stock Exchange.
Stock in the former textile firm traded at $100,000 (￡53,000) on Monday, setting a record for the highest share ever listed in the US.
The firm has a market capitalisation of $155 billion and has increased its stock price 5,555 times since Warren Buffett took the firm over in 1965, when shares closed at $18, reports the Wall Street Journal.
Meanwhile, Justin Fuller, an analyst at Morningstar in Chicago, said the stock is around 25 per cent undervalued – he estimates the shares are worth around $129,000 apiece.
Berkshire owns around 50 companies, including Fruit of the Loom, which manufactures underwear, t-shirts, polo shirts and sweatshirts.
The firm has a stake in Coca-Cola, Gillette and the Washington Post, while subsidiaries include Geico Auto Insurance and Helzberg Diamonds
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