I have just gotten off the phone w Schwab and they are looking into the matter. Ther eMAY have been a glitch in the Reuter's system which Schwab and others use for extended hrs trading. Still, he did see atrade at 5:22PM on Friday at around 2100. Calling Reuter's and Bllomberg now.
Even if warren sold all his stock it would not cause a 51% drop.if there was a 51% drop i believe the market would crash as brk is one of the most stable stocks on the ny exchange.has to be a glitch. This has happened before i think some of the other sites get their info from yahoo.
AN "A" SH IS USUALLY 30 TIMES THE PRICE OF A "B' SH. WHEN YOU OWN A "A" SH YOU ARE ALLOWED TO DETERMINE WHAT CHARITIES THAT BERKSHIRE WILL CONTRIBUTE TO AND LAST YOU CAN CONVERT AN "A" SH TO A "B" BUT NOT THE REVERSE.
Buffett's own explanation is at the link.
Mostly it's voting rights (B= 1/200 A vote). But that's not really a big deal since Buffett, Munger, and a few others have a controlling position. Also conversion rights (A's can convert to B's but not vice versa).
I believe that's one reason Buffett converted A's to B's before giving them to Gates Foundation -- minimizing any loss of control.
Other than that, 1A=30B's. Both are thinly traded, especially the A's, so a big buy or sell order can have a big effect. As Buffett notes, sometimes they diverge but that always self-corrects.
This makes me wonder -- especially just before a long weekend -- would it be possible for someone (or anyone) to distort the market with small, staged, after-hour sale?
Just curious, since I've never tried.