Berkshire Hathaway stock has dropped 11% since Warren Buffett announced he will resign as CEO in December. The “Buffett premium” may be disappearing, as six Berkshire gurus have mixed opinions on the stock’s decline. Investors are uncertain if the stock’s premium is real and fading with Buffett’s departure.

The stock’s 19% year-to-date increase before the annual shareholder meeting in May was impacted by Buffett’s retirement announcement. Buffett’s departure led to the stock falling 11%, while the S&P climbed 10%. Berkshire Hathaway did not respond to requests for comments on the matter.

Experts are divided on whether the “Buffett premium” truly exists. John Longo believes in the premium, suggesting that fewer businesses may sell to Berkshire without Buffett. Bill Smead notes that Berkshire’s valuation is tied to Buffett, with a portion of the premium disappearing once he retires in December.

Chris Bloomstran argues that the “Buffett premium” has not existed since 1998. Strong underwriting earnings led Berkshire’s stock to record highs before falling. Analysts like Steven Check and Larry Cunningham believe the stock was overpriced and is now returning to a fair valuation.

Despite mixed opinions, Greg Abel is set to succeed Buffett as CEO in January. Many experts agree that while Buffett is irreplaceable, Berkshire is expected to perform well under Abel’s leadership. The future of Berkshire Hathaway remains uncertain as the company adapts to a post-Buffett era.

Read more at Yahoo Finance: We asked Warren Buffett gurus whether his exit is what’s bringing Berkshire Hathaway’s stock down