Nov 15, 2024 - Business
Charted: Berkshire orders a pizza
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The Oracle of Omaha is backing Domino's Pizza.
Why it matters: When Berkshire Hathaway invests in a stock, it's viewed as an endorsement by Warren Buffett himself.
Zoom in: Berkshire's investment — it disclosed last night that it had acquired 1.28 million shares of Domino's for about $549 million — is a bet that the chain can overcome recent struggles.
- Domino's sales have been middling in recent quarters. But analysts say the company may be poised for a sales boost if and when it finally agrees to third-party delivery through DoorDash.
- The company — which had long insisted on handling its own delivery — struck a partnership with Uber Eats in 2023 that was exclusive until "at least 2024."
