Warren Buffett's Berkshire Hathaway has slashed its BYD stake by 22% in 4 months - and raked in a roughly $1.2 billion profit on the shares sold
Berkshire only paid around $1 a share when it first invested in BYD, and has now sold 49.4 million shares for around $26 each. That figure is the weighted-average selling price for about 30% of the total shares sold — all that's included in the filing — meaning it's only a rough estimate.
BYD investors have balked at Berkshire's disposals, and the prospect of Buffett and his team dumping more shares or eliminating their position entirely. They have sent the EV company's stock price down 43% since July 11, the day before Berkshire's shares appeared in the clearing system.
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