Is Warren Buffett ditching China's electric car giant? Investors think so
CNN
It looks like Warren Buffett has given up on BYD, China's biggest home-grown electric vehicle maker.
Shares of BYD in the United States tumbled 11% Tuesday after Hong Kong's Central Clearing and Settlement System recorded a massive 225-million-share increase in Citibank's BYD stock holdings, Reuters reported. That's the exact number of BYD shares that Buffett's Berkshire Hathaway had owned.
Berkshire did not respond to a request for comment, and it may not be known whether Buffett sold the stake until the company's next quarterly regulatory disclosure, set for mid-August. Shares of Berkshire Hathaway (BRKA) rose less than 1% Tuesday.
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