BYD has seen about $35 billion of its market value vaporized in recent weeks amid fears that Berkshire is preparing to sell its stake in the Chinese electric-vehicle maker.
BYD stock has plunged from the Hong Kong dollar equivalent of $42 on July 8, to $31 at Wednesday's close — a roughly 25% drop in under seven weeks.
It initially slumped by 16% in three days after 225 million shares — Berkshire's exact stake — appeared on Hong Kong Stock Exchange's clearing system under the custody of Citibank. That sparked speculation that Buffett's company was headed for the exit.
Is Warren seeing an EV crash ahead and a stalling of sales?
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