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Buffett's Berkshire sells $3.8 billion worth of Bank of America in 12-day selling spree
MARKETS
Buffett’s Berkshire sells $3.8 billion worth of Bank of America in 12-day selling spree
PUBLISHED FRI, AUG 2 2024 • 8:01 AM EDT
Warren Buffett is not done selling Bank of America. ... Berkshire Hathaway shed a total of 19.2 million BofA shares on Tuesday, Wednesday, and Thursday for almost $779 million at an average selling price of $40.52 per share, according to a new regulatory filing.
The conglomerate has now been offloading the bank stock for 12 consecutive days with total sales now exceeding $3.8 billion. Its remaining 942.4 million shares have a market value of $37.2 billion at Thursday’s close of $39.50.
As of Thursday’s close, Bank of America fell to the No.3 spot on Berkshire’s list of top holdings, trailing behind Apple
and American Express, which is currently valued at $37.7 billion. Before the selling spree, BofA had long been Berkshire’s second biggest holding.
Berkshire remains the bank’s largest shareholder with a 12.1% stake.
{snip}
Buffett’s Berkshire sells $3.8 billion worth of Bank of America in 12-day selling spree
PUBLISHED FRI, AUG 2 2024 • 8:01 AM EDT
Warren Buffett is not done selling Bank of America. ... Berkshire Hathaway shed a total of 19.2 million BofA shares on Tuesday, Wednesday, and Thursday for almost $779 million at an average selling price of $40.52 per share, according to a new regulatory filing.
The conglomerate has now been offloading the bank stock for 12 consecutive days with total sales now exceeding $3.8 billion. Its remaining 942.4 million shares have a market value of $37.2 billion at Thursday’s close of $39.50.
As of Thursday’s close, Bank of America fell to the No.3 spot on Berkshire’s list of top holdings, trailing behind Apple
and American Express, which is currently valued at $37.7 billion. Before the selling spree, BofA had long been Berkshire’s second biggest holding.
Berkshire remains the bank’s largest shareholder with a 12.1% stake.
{snip}
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