Warren Buffett's Berkshire Hathaway Sells 33.9M Bank Of America Shares, Worth $1.48B
Portfolio Pulse from Rounak Jain
Warren Buffett's Berkshire Hathaway has sold 33.9 million shares of Bank of America, worth $1.48 billion, reducing its ownership to about 999 million shares. This move aligns with Berkshire's recent trend of trimming its holdings in various companies.
July 20, 2024 | 7:48 am
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Berkshire Hathaway has sold 33.9 million shares of Bank of America, worth $1.48 billion, reducing its ownership to about 999 million shares.
The sale of a significant number of shares by a major shareholder like Berkshire Hathaway could indicate a lack of confidence in the stock, potentially leading to a short-term decline in Bank of America's share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Berkshire Hathaway's Class A shares fell 1.63% following the sale of 33.9 million Bank of America shares.
The sale of a large stake in Bank of America may have contributed to the decline in Berkshire Hathaway's Class A shares, reflecting investor concerns about the conglomerate's portfolio adjustments.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Berkshire Hathaway's Class B shares fell 1.66% following the sale of 33.9 million Bank of America shares.
The sale of a large stake in Bank of America may have contributed to the decline in Berkshire Hathaway's Class B shares, reflecting investor concerns about the conglomerate's portfolio adjustments.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80