Berkshire Hathaway has completely sold its stake in BYD, the Chinese electric vehicle (EV) manufacturer. This comes after the investment had been highly profitable for the company.
Q1 Financial Report Shows Exit
According to Berkshire Hathaway’s Q1 financial report, the BYD investment was valued at zero as of March 31. A spokesperson from the company confirmed that Berkshire Hathaway has fully exited its position in BYD.
Impact on BYD Stock
Following the news of Berkshire Hathaway selling its stake, BYD shares fell sharply on the Hong Kong market. The stock dropped up to 3.6%, marking its biggest decline in three weeks, making it one of the worst-performing Chinese shares recently.
About BYD and Berkshire Hathaway
BYD is one of China’s leading electric vehicle makers, while Berkshire Hathaway is the multinational holding company led by Warren Buffett. The investment in BYD had been a profitable venture for Berkshire Hathaway over the years.
Conclusion
The exit from BYD marks a major change in Berkshire Hathaway’s investment portfolio and has affected the performance of BYD shares in the market. Investors will be watching closely to see the future impact on both the company and the stock.
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