BYD’s Stock Falls After Report Buffett Sold His Entire Stake
The past two decades have seen BYD go from a little-known Chinese battery provider for cell phones to the nation’s biggest electric and hybrid vehicle maker.
Photographer: Qilai Shen/BloombergBYD Co. 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 3.4%, 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.