BYD's Stock Falls After Report Buffett Sold His Entire Stake
BYD shares dropped the most in three weeks after a report that Warren Buffett's investment firm offloaded its stake in the Chinese electric-vehicle maker.
The stock fell as much as 3.6%, ranking among the worst performers on a gauge of Chinese shares listed in Hong Kong. Berkshire Hathaway Inc. has exited its entire holding in BYD, according to a CNBC report on Sunday that also cited a spokesperson for the US firm confirming the development.
My Take:
This is another sign that BYD is in financial trouble. Buffet exited the entire stake is a show of no confidence in the company. Despite what some media (or someone) said, the main reason is due to fundamentals not geopolitical reasons. You can read the 3 posts below about BYD's red flags:
•BYD in trouble amid Mexico's new tariff on Chinese cars & auto parts
•BYD, Li Auto and Nio, reported a drop in July deliveries (China's involution or neijuan)
•BYD: Will it become the next Evergrande?
•BYD in trouble amid Mexico's new tariff on Chinese cars & auto parts
•BYD, Li Auto and Nio, reported a drop in July deliveries (China's involution or neijuan)
•BYD: Will it become the next Evergrande?
Source:
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ZnWC
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I reflect trading experience by writing journals. My posts and comments are for education purpose not financial advice.
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Bob01 : wow. this gonna hit hard on the EVs.
ZnWC OP Bob01 : Only hit hard on BYD. Other EV stocks are still in the green.
MemoriesInSlowMotion : He sold more for political reasons. his company cant be seen as favouring the outlook of US's biggest adversary...
ZnWC OP MemoriesInSlowMotion : The fall in share price is a signal it is not due to geopolitical reasons.
This is another sign that BYD is in financial trouble. Buffet exited the entire stake is a show of no confidence in the company. Despite what some media (or someone) said, the main reason is due to fundamentals not geopolitical reasons. You can read the 3 posts below about BYD's red flags:
•BYD in trouble amid Mexico's new tariff on Chinese cars & auto parts
•BYD, Li Auto and Nio, reported a drop in July deliveries (China's involution or neijuan)
•BYD: Will it become the next Evergrande?
WinningTrader ZnWC OP : There could be two falls now. Will buy if it drops below 90.
1st Million ZnWC OP : stop spreading misinformation get your facts right
ZnWC OP Value investor 8888 : As you said that was 17 years ago. The fall in share price is a signal it is not due to geopolitical reasons.
This is another sign that BYD is in financial trouble. Buffet exited the entire stake is a show of no confidence in the company. Despite what some media (or someone) said, the main reason is due to fundamentals not geopolitical reasons. You can read the 3 posts below about BYD's red flags:
•BYD in trouble amid Mexico's new tariff on Chinese cars & auto parts
•BYD, Li Auto and Nio, reported a drop in July deliveries (China's involution or neijuan)
•BYD: Will it become the next Evergrande?
ZnWC OP 1st Million : My sources of information are from Bloomberg (US) and The Business Times (Singapore cited from Reuter) which are reliable. The links are found above. You should learn to accept opposing views and stop shouting false and baseless comments.
8888-8888 : why are American financial institution pretending their government isnt telling them what to do? lets stop the charade
ZnWC OP 8888-8888 : You shouldn't be trading in the US stock market (or using USD) if you think the American financial institution is a "charade".
As a comparison, the American financial institutions emphasize shareholder value and market-based mechanisms within a diverse and decentralized system under robust federal regulation, while Chinese institutions are dominated by large, state-owned banks focused on state objectives and guided by a centralized regulatory framework from bodies.