While everyone out there seems to be focusing on the race between Alphabet (GOOGL) and Amazon.com (AMZN) over who will be the first to break the $1,000 barrier, there’s also another stock out there that’s on the cusp of crossing $1,000 for the first time. That stock is Markel (MKL), which is probably a name you have never heard of. With a market cap of just under $14 billion, MKL is not a behemoth like AMZN or GOOGL, but it’s still not small. MKL is actually an insurance company that is often referred to as a “baby Berkshire” as it has a large insurance underwriting business as well as a portfolio of equities that the company holds. As shown in the chart below, MKL is just as close to breaking $1,000 as AMZN and GOOGL.
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While it is always dangerous to count your chickens before they’re hatched (see our post on the DJIA’s attempt to break 1,000 that spanned multiple decades), if one, two, or all of the stocks listed above do manage to break the $1,000 level, they will join a very exclusive club. As shown in the table below, there are currently just four stocks listed on US exchanges trading above $1,000/share with market caps of more than $500 mln that trade more than 250 shares per day. Those four stocks are Berkshire Hathaway (BRK/a), Seaboard (SEB), NVR, and Priceline (PCLN). What distinguishes AMZN and GOOGL from the others, though, is their liquidity. With average daily volumes of more than 1.5 million shares per day, the average daily dollar volume of these two stocks is well in excess of any other stock in the group.