During the last few weeks of the year, trading volume on Wall Street is typically light as investors celebrate the holidays and take vacations. The common Santa Claus rally didn't materialize in December 2024, though, and the market experienced some strong selling.
VeriSign stock price is doing well as it rose for seven consecutive weeks and reached its highest level since December 2023. Most of these gains happened after Warren Buffett accumulated more VRSN shares.
Whenever the great Warren Buffett makes a move, some of his many followers are sure to scramble to follow in his footsteps.
Shares of network infrastructure company VeriSign Inc. (NASDAQ:VRSN) were up 1.6% at $208.43 at last check, following news that Warren Buffett's Berkshire Hathaway (BRK.A) increased its stake in the company.
Warren Buffett is one of the most renowned investors in the world. The ‘Oracle of Omaha' has managed to outperform the markets on a consistent basis.
Warren Buffett went a buying spree in late December, purchasing VeriSign stock in multiple sessions through Dec. 24. The post Warren Buffett Puts Cash Reserves To Work Buying S&P 500 Underperformer appeared first on Investor's Business Daily.
VeriSign's strong market position, high margins, and pricing power justify a slight premium valuation, expected to stabilize at around 22x P/E ratio. The company dominates the domain name industry, managing key domains like .com and .net, and benefits from regulatory agreements allowing price increases. VeriSign's financials are solid, with high operating margins, strong cash flow, and disciplined cost control, supporting capital returns and reinvestment.
Much attention has been paid lately to the fact that Warren Buffett has been trimming stakes and building a cash hoard.
Warren Buffett has spent more than $70 million over six days to Dec. 24 to resume buying VeriSign's stock.
Sen. Elizabeth Warren is calling for an antitrust investigation into the web domain registration business. The Democratic lawmaker from Massachusetts — working with Rep.
Sen. Elizabeth Warren is calling for an antitrust investigation into the web domain registration business. The Democratic lawmaker from Massachusetts — working with Rep.
The Q3 report shows revenue up, high margins, EPS $2.07, but a decrease in the number of domain name registrations which makes the picture mixed. Despite a declining DNB, it still holds roughly 47% of the market in a very stable market position. Share buybacks continue to be a given, with management increasing shareholder benefits.