Warren Buffett won’t sell a stock due to short- or mid-term issues; he aims for long-term value. If it weren’t a serious issue with the stock, he wouldn’t sell. BoA may be in big trouble.
Warren Buffet aka Berkshire Hathaway sells $900m BofA stock
Berkshire Hathaway resumed sales of Bank of America stock in recent days, unloading about $900 million worth of shares and dropping its stake in the big bank to $34 billion, or 10.8% of the shares outstanding.
Berkshire sold 22.3 million shares of Bank of America on Tuesday, Wednesday, and Thursday at prices averaging $39.58 to $40.78, according to a Form 4 filing with the Securities and Exchange Commission late Thursday. Berkshire now owns 836 million shares.