Warren Buffett's company keeps selling carmaker BYD's stock
Warren Buffett's company continues selling off its stake in Chinese electric car manufacturer BYD and now holds less than 10% of that company's stock OMAHA, Neb. -- Warren Buffett’s company continues selling off its stake in Chinese electric car manufacturer BYD and now holds less than 10% of the company's stock. Berkshire Hathaway revealed the latest sale of 1.96 million BYD shares worth about $58.9 million ($462 million Hong Kong dollars) Monday in a filing with the Hong Kong stock exchange. The Omaha, Nebraska-based conglomerate still owns more than 108 million shares, but that stake is less than half the size of the 225 million shares it held until it began selling last August. Buffett has yet to explain why he has been selling stock in a company he has praised so highly in the past, and he wasn't asked about it at Berkshire's annual meeting on Saturday. But Buffett doesn't generally comment on the stock s he is buying or selling while he is still m...