Partly cloudy early with increasing clouds overnight. Low 43F. Winds light and variable..
Partly cloudy early with increasing clouds overnight. Low 43F. Winds light and variable.
Updated: January 9, 2023 @ 7:09 pm
FILE – Staff members stand near a logo for the BYD auto company, as they wait for visitors at the Beijing International Automotive Exhibition in Beijing, April 25, 2016. Warren Buffett’s company continues selling off its BYD shares despite the positive comments he has made about the Chinese electric car maker in the past, but Berkshire Hathaway remains a major shareholder.
Warren Buffett’s company continues selling off its BYD shares despite the positive comments he made in the past about the Chinese electric car maker, but Berkshire Hathaway remains a major shareholder. Berkshire said in a filing with the Hong Kong stock exchange Monday that it had sold another 1 million shares, leaving it with 13.97% of the Hong Kong-issued shares of BYD. Buffett hasn’t explained why he is selling the shares he bought back in 2008 for $232 million. But the sales do allow Berkshire to bank some of the tremendous gains the stock has recorded since the market for electric vehicles took off in China. Berkshire’s remaining stake is worth a little under $4 billion.
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