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Top 10 U.S. Stocks With 3-month Earnings Momentum as Net Upgrades Brighten: Berenberg
Cumulative shareholding value reached $2.3 billion! "Stock God" Buffett has been selling Bank of America (BAC.US) for 6 consecutive days.
Warren Buffett's core conglomerate has been reducing its shareholding in Bank of America for six consecutive trading days.
Berkshire Is Quickly Cutting Its Stake in Bank of America. More Sales Could Be Coming
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.
Buffett continues to reduce his shareholding in Bank of America stocks, cashing out about 0.8 billion US dollars this week.
Berkshire Hathaway Company submitted a document to the U.S. Securities and Exchange Commission (SEC) on Wednesday evening local time, indicating that the company has continued to sell Bank of America stocks in the past few days, selling nearly 19 million shares at a price of about $0.8 billion. Berkshire Hathaway still holds 0.98 billion shares of Bank of America, worth about $41 billion. Bank of America's stock price fell 0.5% on Wednesday, closing at $42.19, but rose 0.5% in after-hours trading. Berkshire Hathaway currently holds about 12.6% of Bank of America's shares. Bank of America is still Berkshire Hathaway's second largest holding, second only to Apple. Last week, Berkshire
Election Watch: Will Conservatives and Liberals Move the Meter With Their Stock Picks?
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