Berkshire Hathaway Sells Amazon (AMZN) For New Stock Bet () program details. Reviews, Scam or Paying
Berkshire Hathaway sold more than 75% of its stock holdings in Amazon (AMZN) in the fourth quarter, a concerning mark for the e-commerce giant. The firm is now opting for a new investment with its return from the AMZN sales. Indeed, Berkshire Hathaway acquired 5.1 million shares of media publishing company The New York Times (NYT) in the three months through December, a stake worth $351.7 million at year-end, according to a regulatory filing Tuesday. The move is also notable because it comes five years after Warren Buffett sold off all of Berkshire Hathaway’s newspapers and predicted unending declines for most of the industry. The reignited faith in a newspaper giant like The New York Times (NYT) fueled investors’ belief that the stock would rally. NYT rose 1.8% to $75.39 in early trading on Wednesday at 8:33 a.m. in New York, rising an additional 1% as of 12 pm. Amazon (AMZN), meanwhile, is up over 2% at press time. In the last quarter, former CEO Warren Buffett made several big ...