Warren Buffett walks the flooring in advance of the Berkshire Hathaway Yearly Shareholders Assembly in Omaha, Nebraska on Could 3, 2024.
David A. Grogen | CNBC
OMAHA, Neb. — Warren Buffett revealed that he dumped Berkshire Hathaway’s entire Paramount stake at a reduction.
“I was 100% dependable for the Paramount selection,” Buffett mentioned at Berkshire’s yearly shareholder meeting. “It was 100% my selection, and we’ve offered it all and we shed rather a little bit of cash.”
Berkshire owned 63.3 million shares of Paramount as of the end 2023, after slicing the situation by about a 3rd in the fourth quarter of last 12 months, according to most up-to-date filings.
Berkshire initial purchased a nonvoting stake in Paramount in the to start with quarter of 2022. Due to the fact then the media enterprise has had a hard journey, going through a dividend slice, earnings miss and a CEO exit. The stock declined 44% in 2023 and a different 12% in 2023.
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