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Berkshire Hathaways Latest Sale Brings Total Stake Reduction To 18 Billion

Warren Buffett Continues to Shrink Bank of America Stake, Sells Additional $982 Million

Berkshire Hathaway's Latest Sale Brings Total Stake Reduction to $1.8 Billion

In a move that signals a further reduction in Berkshire Hathaway's exposure to the banking sector, Warren Buffett has sold an additional $982 million worth of Bank of America Corp. (BAC) shares.

Buffett's Long-Term Strategy

Buffett's decision to trim his stake in Bank of America is consistent with his long-term investment strategy of focusing on companies with strong fundamentals and undervalued share prices.

In recent years, Berkshire Hathaway has been increasing its investments in sectors such as energy and technology, while reducing its exposure to the financial sector.

Market Impact

The sale of such a large block of shares has had a noticeable impact on the market, with Bank of America's stock price falling by 1.5% in after-hours trading.

However, analysts believe that the long-term impact on Bank of America's share price will be minimal, as the sale represents only a small fraction of the bank's outstanding shares.

Key Takeaways

  • Warren Buffett has sold an additional $982 million of Bank of America stock.
  • The sale is part of Berkshire Hathaway's ongoing strategy to reduce its exposure to the banking sector.
  • The market impact of the sale has been limited, with Bank of America's stock price falling by only 1.5% in after-hours trading.

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