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BYD stock slumps amid rumors Buffett is cutting stake

Conference On Issues Affecting U.S. Capital Markets Competitiveness

Chip Somodevilla

BYD Company (OTCPK:BYDDY) shares declined by double digits on Tuesday as speculation that Berkshire Hathaway is cutting its stake ran rampant.

According to local reports, a 225 million share stake in the Chinese EV leader entered Hong Kong's Central

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Comments (8)

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Newbie.75Mil profile picture
BYD just surpassed Tesla as the largest EV mfg in the world, and did it during a pandemic, supply chain problems, chip shortage, war, and looming recession. What can BYD do when headwinds subside? Stay on the ride Mr Buffett and find out. I’m staying put.
I would think if Buffett exited, he would do it piecemeal, not in one fell swoop so as to avoid the drop a big order like this would cause. Anyone?
@AlphaMatic Agree with you. I just don't understand why he'd even think of doing it when it has turned 230 million into almost 9 billion, is only at the cusp of what is possible in EVs and battery technology, and the fact that Charlie Munger practically adores BYD.
John McCoy profile picture
@basey 68 Freeing up cash to buy the rest of OXY.
@John McCoy Oh my should I just buy some OXY too?
Sounds possible. It is expensive and there are so many safer opportunities right now
BYD has become very expensive.
valuinvst profile picture
Hate to see it but understand.
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