Warren Buffet's Berkshire Drops BYD Stake Despite EV Leader Seeing Record Sales
Portfolio Pulse from Nabaparna Bhattacharya
Warren Buffett's Berkshire Hathaway is reducing its stake in BYD Co., Ltd. to less than 6%, despite BYD's record sales. Berkshire sold 2.02 million Hong Kong-listed shares of BYD, fetching $60.61 million. This follows an earlier sale of 1.3 million shares. BYD continues to see strong sales and profits.
June 25, 2024 | 2:05 pm
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NEUTRAL IMPACT
BYD continues to see strong sales and profits despite Berkshire Hathaway reducing its stake to less than 6%.
While Berkshire Hathaway's reduction in stake might raise concerns, BYD's strong sales and market position could mitigate negative impacts on its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Berkshire Hathaway is reducing its stake in BYD to less than 6%, despite BYD's strong sales and profits.
The reduction in BYD stake by Berkshire Hathaway may signal a cautious approach by Warren Buffett's firm, potentially impacting investor sentiment negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100