Warren Buffett’s recent sell-off of Bank of America Corp. stock is drawing attention as his selling spree shows signs of slowing. In a notable move, Buffett’s Berkshire Hathaway Inc. cashed in $338 million from the sale this week, marking the 13th round of disposals since mid-July. This round is particularly interesting as it comes at some of the lowest prices Buffett has seen during his recent liquidations.
The average price for the shares sold on Tuesday and Wednesday was $39.40, which is lower than what he typically secured in previous transactions that averaged around $750 million over three-day periods.
At 94 years old, Buffett hasn’t publicly explained why he’s reducing Berkshire’s substantial stake in Bank of America. Even with these recent sales, Berkshire remains the bank’s largest shareholder, holding onto 10.2% of the stock, valued at over $31 billion.
Investors are left to wonder: Is Buffett anticipating a downturn, or is he simply reallocating funds? As one of the most respected figures in investing, any moves he makes are sure to spark discussions among market watchers. What do you think? Is this a strategic retreat or a calculated maneuver?
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