Warren Buffett's Berkshire Hathaway continues to sell BYD stock as Chinese EV maker comes off recent high
Buffett's Berkshire Hathaway sold over 4 million shares of BYD stock for $139 million on February 3,The company has been offloading shares and last week's sale followsBerkshire initially invested in BYD in 2008, purchasing 228 million shares for $232 million,. Berkshire's stake in the company was as much as 21% in 2021, worth over $7 billion.
Now the Warren Buffett-led firm has been cashing in on the company's success, as BYD posts strong sales in China at an affordable price point for its electric vehicles. BYD overtook Elon Musk's Tesla in 2022 in sales in the Chinese market. BYD's US-listed shares are trending downward roughly 5% since late January but are still up 23% from the start of the year. On Thursday, shares rallied 4.4% to $31.70.
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