BYDDY - Warren Buffett's Berkshire Hathaway Further Reduces Position In This Tesla Rival An Investment Charlie Munger First Recommended | Benzinga
Berkshire Hathaway, Inc. (NYSE:BRK) (NYSE:BRK), the investment holding firm, run by revered investor Warren Buffett on Monday disclosed trimming stake in China-based electric-vehicle maker BYD Co Ltd. (OTC:BYDDY) (OTC:BYDDF).
What Happened: Berkshire sold 1.3 million Hong Kong-listed shares of BYD, with the sale fetching the firm proceeds of HK$ 310.5 million ($39.8 million), a Hong Kong stock exchange filing showed. The disposal was done on June 11.
Berkshire has been offloading shares of BYD in small quantities over the years, and the most recent divestment has left it with a stake of 6.90%, down from 7.98% in late October 2023, when it sold 820,500 shares.
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Why It’s Important: Berkshire first invested in BYD in 2008 at the ...