Berkshire Hathaway Sells Bank of America Shares

Warren Buffett's Berkshire Hathaway has sold nearly 25 million shares of Bank of America, worth approximately $1 billion, as part of a broader divestment strategy since mid-July, which has seen the sale of 129 million shares totaling $5.4 billion. Despite the sales, Berkshire remains the largest shareholder in the bank, holding over 900 million shares valued at around $36 billion. The sell-off has been accompanied by a significant increase in Berkshire's cash reserves, now at a record $277 billion, amid Buffett's concerns about an overpriced stock market. The market value of Berkshire Hathaway has surpassed $1 trillion following these stock sales. Buffett has not disclosed his reasons for the sales, maintaining his usual discretion on investment strategies.