Kerrisdale
2022-08-31
Buffett’s Berkshire trims stake in China’s biggest electric-car maker @BYD

According to reports from SCMP (South China Morning Post), Berkshire sold 1.33 million shares at an average of HK$277.10 apiece, valuing the sale at HK$369 million (US$47 million) on August 24. Berkshire's shares in BYD is dropped to 19.92 per cent from 20.49 per cent. 
Though BYD has reported bigger EV sales than Tesla in the first half of this year, apparently this does not bode well with Berkshire's plan. China's policy in controlling the spread of virus has made many manufacturers very uneasy with disruptions in supplies, logistics and production schedules. Adding to the wounds, power cuts are also causing the factories to reduce production runs. 
With this hit other stocks who have factories producing their goods and products? The answer is quite obvious.

Source: SCMP dated 31 Aug 2022
@Tiger_Earnings @TigerEvents @TigerObserver @alanyeo

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Comments

  • JC888
    2022-08-31
    JC888
    Wonder if there will b an adverse dramatic reaction this week to $BYD COMPANY(01211)$ share price though especially during this trying times..
  • highhand
    2022-08-31
    highhand
    this is time when Tesla stands over all the EV makers and says "Is there no one else !"
  • PhilipChow
    2022-08-31
    PhilipChow
    Warren Buffet may know something retail investor doesn’t know, just my opinion
  • wenziwu
    2022-09-02
    wenziwu
    [Surprised]
  • Otahman
    2022-09-02
    Otahman
    Okok
  • TigerHulk
    2022-09-01
    TigerHulk
    Ok
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