Shares of Lee Enterprises Inc. (NYSE: LEE), a provider of local news, information and advertising in midsize markets, surged in after-hours trading on Tuesday.
The penny stock of LEE rose 30.43% to $1.50 in after-hours trading. Earlier in regular trading on Tuesday, LEE had finished flat at $1.15.
Lee Enterprises shares surged in after-hours trading on Tuesday after Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK.A) disclosed that it owns about 3.2% of LEE. BRK.A owns 1.66 million shares of LEE as of March 31, 2012.
The disclosure was made after the SEC refused to let BRK.A keep the investment confidential.
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