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Berkshire Hathaway sells BYD stock

Yahoo Finance’s Pras Subramanian breaks down news that Berkshire Hathaway has sold 3 million shares in EV maker BYD.

Video Transcript

BRAD SMITH: We also saw some news this morning that Warren Buffett's investment firm Berkshire Hathaway, they're selling shares of a China-based EV maker. So can you tell us more about that?

PRAS SUBRAMANIAN: So many years ago, BYD, Berkshire bought a pretty significant stake in BYD by 20%. They've held out for about 10 years, and they started selling little slivers of it starting late this summer. This is the third-- I believe the third sale they've done. Another-- I think I believe another 3 million shares here. They sold about a million, million and a half also in September. So still, they sell over 200 million shares. So it's still like a significant kind of holding.

But the question is, is Warren ready to kind of exit this? Have they made a lot of money off this stake? They bought it for $225 million I think 10 years ago, and now it's over 10 years ago, and now it's worth $7 million, I think. So the question is, when is it time to exit? Do you see it as a long-term Buffett play, or is it time to sort of like reevaluate?

JULIE HYMAN: Interesting. We saw those shares rallying just now, along with other Chinese stocks during the session. So, interesting. Thanks, Pras. Appreciate it.