It's been a tough past month or so for the market. While some stocks are finally hinting at a rebound effort, most tickers are still well below their February peaks.
Warren Buffett has been a huge net seller of stocks over the past year. But the fact that he is selling a lot of stock doesn't mean he and his investing team aren't buying any stocks.
Internet domain registration specialist VeriSign (VRSN 0.22%) has been quite the sprightly stock since Warren Buffett's Berkshire Hathaway added to its existing stake recently.
VeriSign, Inc. (NASDAQ:VRSN ) Q4 2024 Results Conference Call February 6, 2025 4:30 PM ET Company Participants David Atchley - VP of IR and Corporate Treasurer Jim Bidzos - Executive Chairman, President and CEO George Kilguss - EVP and CFO Conference Call Participants Rob Oliver - Baird Ygal Arounian - Citi Operator Good day, everyone. Welcome to VeriSign's Fourth Quarter and Full Year 2024 Earnings Call.
Internet services company VeriSign reported a 3.9% rise in fourth-quarter revenue on Thursday, fueled by steady demand for domain registrations as businesses amplify their online presence, sending its shares 1% higher in extended trading.
VeriSign earnings met views as new domain name registraions rose. VeriSign stock, a Warren Buffett holding, fell in late trading.
Warren Buffett hasn't seen a lot to like in the stock market for some time now. The Berkshire Hathaway CEO has sold more equities from the conglomerate's investment portfolio than he's added to it in each of the last eight quarters.
Warren Buffett is known for advising investors to stay within their circle of competence, which means not buying or even considering businesses or industries that the investor cannot understand. He has also said that he missed out on many big opportunities in the technology sector because he didn't truly understand the industry dynamics.
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.