{"id":137940,"date":"2024-09-26T13:00:40","date_gmt":"2024-09-26T10:00:40","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=137940"},"modified":"2024-09-26T01:11:29","modified_gmt":"2024-09-25T22:11:29","slug":"warren-buffetts-berkshire-hathaway-continues-bank-of-america-sell-off","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/warren-buffetts-berkshire-hathaway-continues-bank-of-america-sell-off\/","title":{"rendered":"Warren Buffett&#8217;s Berkshire Hathaway Continues Bank of America Sell-Off"},"content":{"rendered":"<p>Between September 20 and September 24, Berkshire sold BAC stocks valued at around $863 million, bringing the total value of shares sold to $9 billion, according to TipRanks data.<\/p>\n<p>This recent <strong><a href=\"https:\/\/www.tipranks.com\/stocks\/bac\/insider-trading\" target=\"_blank\" rel=\"nofollow\">sale<\/a> <\/strong>follows Buffett\u2019s earlier transactions, where Berkshire sold 22.3 million BAC shares a week prior, generating $896 million. Before that, the company had sold 5.8 million BAC shares between September 6 and 10, worth $228.65 million at the time.<\/p>\n<p>Berkshire Hathaway, which remains Bank of America\u2019s largest shareholder, began its series of stock sales in mid-July 2023. After these recent transactions, Berkshire\u2019s stake in the bank has dropped to 10.5%.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/etoro-launches-direct-crypto-trading-in-germany\/\" title=\"eToro Launches Direct Crypto Trading in Germany\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/etoro_logo-min-1280x720-1-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">eToro Launches Direct Crypto Trading in Germany<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Although Buffett hasn\u2019t commented on the rationale for these sales, Haruki Toyama, a portfolio manager at Madison Investments, does not interpret it as a bearish signal, suggesting that Buffett\u2019s actions likely aren\u2019t based on an extreme market view. Bank of America CEO Brian Moynihan praised Buffett as a stabilizing force for the company but admitted uncertainty over why he is reducing his position.<\/p>\n<p>As of now, Bank of America shares are priced at $39.13, reflecting a 0.24% drop for the day and a 3.53% decline over the past week. The stock has lost 1.97% in the past month but still shows a year-to-date gain of 15.25%.<\/p>\n<p>Buffett\u2019s latest BAC sales may be part of his ongoing trend of reducing exposure to the U.S. banking sector, following previous exits from positions in Goldman Sachs, JPMorgan, Wells Fargo, U.S. Bancorp, and Bank of New York Mellon.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Warren Buffett, CEO of Berkshire Hathaway, has continued his selling streak of Bank of America (BAC) shares, with his latest sale nearing 22 million shares.<\/p>\n","protected":false},"author":7,"featured_media":31492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-137940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized 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