Buffett's Berkshire sells $3.8 billion worth of Bank of America in 12-day selling spree
Publishing timestamp: 2024-08-02 12:01:28
Summary
Warren Buffett's Berkshire Hathaway continues to sell Bank of America shares, reducing its stake in the bank. Despite the selling spree, BofA remains one of Berkshire's top holdings. The bank's stock has dropped amid recession fears, but it has outperformed the S&P 500 year to date. Buffett initially invested in BofA in 2011 after the financial crisis and has praised the bank's business, valuation, and management. BofA recently reported strong second-quarter results.
Sentiment: MIXED
Tickers: BAC?TAB=OWNERSHIP, AAPL, BAC, AXP,
Keywords: breaking news: markets, breaking news: investing, markets, american express co, bank of america corp, stock markets, business news, wall street, apple inc, breaking news: business, investment strategy,