KHC - 1 Warren Buffett Stock Down 62% to Buy in 2024 and Hold
2024-01-01 09:00:00 ET
All-time great investor Warren Buffett is known far more for his winners like Apple and Coca-Cola than for his losing stocks. Food conglomerate Kraft Heinz (NASDAQ: KHC) is a rare example of his investments gone bust. The stock price is down over 60% from a high over six years ago.
Yet, it remains one of Berkshire Hathaway 's 10 largest positions, worth over $12 billion. The billion-dollar question for investors is: Why has Buffett held onto the stock for so long? After all, he's owned it since he helped arrange a merger to create the entity in 2015.
Is it stubbornness? Maybe not. Here are three reasons why the future looks bright for Kraft Heinz and its shareholders in 2024 and beyond.
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1 Warren Buffett Stock Down 62% to Buy in 2024 and Hold