Warren Buffett Sells Over $10 Billion in BofA Stocks
- Berkshire Hathaway has sold over $10 billion worth of shares in Bank of America since mid-July.
- The latest sale brought in $383 million, with the stock price closing at $39.96.
- Buffett's cautious selling strategy indicates a response to market conditions and stock performance.
In the United States, Berkshire Hathaway Inc. has recently completed its 14th round of selling shares in Bank of America, surpassing $10 billion in total proceeds from this divestment. Warren Buffett, the company's CEO, initiated this selling spree in mid-July, which has exerted downward pressure on Bank of America's stock price. Over the last three trading days, Berkshire sold fewer shares than in previous rounds, generating $383 million. The stock price has shown a tendency to decline towards the $39 mark, prompting Buffett to slow down his selling activity. As of the latest report, Berkshire holds a remaining 10.1% stake in Bank of America, valued at approximately $31.4 billion based on the closing price of $39.96. This strategic move reflects Buffett's ongoing assessment of the bank's stock performance and market conditions, indicating a cautious approach to managing his investments.