Berkshire Hathaway has significantly reduced its stake in Bank of America, collecting over $10 billion in total proceeds, indicating a strategic divestment by Warren Buffett.
In the latest round of selling, Berkshire Hathaway generated $383 million, highlighting a shift in Buffett's approach as he sells fewer shares amid stock price declines.
Warren Buffett's selling spree began in mid-July, and each sale has impacted the stock price; he seems to suspend selling around the $39 mark.
Berkshire Hathaway still retains a substantial 10.1% stake in Bank of America, valued at approximately $31.4 billion, despite ongoing divestitures.
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