(Oct 8): Warren Buffett’s conglomerate has added another zero to its haul from a months-long selling spree of Bank of America Corp stock.
In its 14th round of disposals, Berkshire Hathaway Inc eclipsed US$10 billion (RM42.86 billion) of total proceeds from whittling its stake in the second-largest US bank, a regulatory filing on Monday showed. Buffett, 94, began paring the massive investment in mid-July, putting pressure on the stock’s price ever since.
In the latest batch, Berkshire reaped US$383 million over three trading days, as it unloaded fewer shares than in many previous rounds. Buffett’s selling has tended to trickle off when the stock’s price falls towards US$39, his company’s filings showed. The shares closed at US$39.96 on Monday.
Berkshire’s remaining 10.1% stake is worth about US$31.4 billion at that price.
Source: TheEdge - 9 Oct 2024
Created by edgeinvest | Nov 08, 2024
Created by edgeinvest | Nov 08, 2024
Created by edgeinvest | Nov 08, 2024
Created by edgeinvest | Nov 08, 2024
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Created by edgeinvest | Nov 07, 2024