Berkshire Hathaway announced their decision to trim their holding of
BYD stocks, following rising trade tensions concerning Chinese electric vehicles (EVs). This major news comes after a prolonged period where stock purchases by
Warren Buffett's Berkshire Hathaway, signal solid backing for the Chinese automaker, acting as a positive catalyst to the overall stock prices. Despite an uncertainty reflected in the stock market for EVs,
BYD shares have noted an increase derivative of lower than expected tariffs proposed by the European Union. The company also released promising numbers with its 1 million installed BatteryBox systems. Still, their stocks have faced fluctuations as Europe unveiled new tariff plans. Amidst these ups and downs, BYD emerged as the world's largest seller of EVs surpassing Tesla, but an unexpected earnings miss has negatively impacted the stocks.
BYD has also announced stock buyback plans and ambitions to introduce more luxury models. In a varied year for BYD, sales of EV deliveries dropped sharply in February, however, their stocks surprisingly rallied. Persistent trade tension created a bearish block trade of BYD stocks. A recent push by China for EV buying has initiated recovery of BYD stock.
BYD Stocks News Analytics from Tue, 17 Oct 2023 07:00:00 GMT to Mon, 24 Jun 2024 02:38:37 GMT -
Rating 2
- Innovation 5
- Information 8
- Rumor 4
