Posted May 12, 2019 04:33:24The Berkshire Hathay board is holding its annual meeting in a park at the Massachusetts Institute of Technology.
There’s an expected number of speakers and exhibitors.
We will be watching for a few of the usual suspects to take the stage, including the billionaire investor and CEO of Berkshire Hathway, Bill Ackman.
He is likely to give a speech outlining how he plans to drive down the cost of his company’s stock, Berkshire Hathaways chief executive officer, John Welch, told investors in a conference call.
As for Ackman, he is expected to give his views on the state of the US economy.
He said he expects that the US manufacturing sector will remain strong and that US companies will be able to grow faster than the rest of the world.
The company has been hit by a series of issues over the past few months.
We have seen a sharp drop in its share price, which is now down by almost 30 per cent from the peak of $1,086 in early April.
The stock is currently trading at around $2,100 a share.
“I expect that Berkshire Hathays stock price will be higher in 2019,” Welch said.
On Friday, Berkshire also announced a number of big investments.
It announced that it had purchased $500 million of US property in Arizona, which will create a million jobs.
Meanwhile, Berkshire announced that a $100 million investment in an Australian property company will create 2,000 jobs.
Earlier this week, it said that it has signed a deal to acquire more than 5,000 acres in Oregon for a $15 billion deal.