Warren Buffett’s company, Berkshire Hathaway, recently sold $10 billion worth of Bank of America shares, reducing its ownership by about 25%.
This follows his previous decision to reduce his Apple holding by 56%. Warren Buffett’s Berkshire Hathaway sold around 239 million bank of America shares between July and October.
There is no official statement from him on why he sold his shares, but possible reason could be taking profits after Bank of America’s stock rose 50% in the past year.
Warren Buffet Sells Shares in Bank of America worth $10 billion, yet Berkshire still holds $31 billion in Bank of America stock. This shows that Buffett remains confident in the bank’s future.
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