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Shareholding for six days reduced by 5%! Is Buffett going to "clear the warehouse" of Bank of America?
Warren Buffett has reduced his holdings of 52 million shares of Bank of America stocks and cashed out $2.3 billion within six trading days, and may continue to sell.
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6 days of consecutive sales! Berkshire Hathaway has a record amount of cash in hand, but remains steadfast in its shareholding of beloved Bank of America.
Some analysts believe that Buffett's shareholding reduction in Bank of America may be related to concerns about valuation. The current price of Bank of America has been getting closer to the level before the plunge of the US stock market in early 2022. In addition, tax rates may also be a possible reason. Regardless of the reason, based on Buffett's style, once the shareholding reduction starts, it will last for a considerable period of time.
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