Stock Portfolio

Berkshire Hathaway-Backed BYD Hits New All-Time High

(BRK.A), (BRK.B)

Berkshire Hathaway-backed BYD’s stock jumped to a new all-time high on Tuesday, with the share price up a dramatic 15.7 percent in the past month.

Shares of BYDDF jumped +$1.17 (2.92%) to close at $41.42 on June 28, 2022.

BYD shares had been on a dramatic run since 2020, rising from $4.52 on March 20, 2020 to an intraday peak of $43.61. The 52-week low was $21.42.

BYD has been posting strong sales for its plug-in EVs, including selling 105,475 cars in China in April.

In mid-June, BYD’s board approved a 33 percent rise in the share price the new energy company can pay to buy back its shares. The company can now pay up to 400 yuan each for shares repurchased from the open market.

BYD and Berkshire Hathaway

In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares for $232 million. It’s an investment that has paid off handsomely. Berkshire’s original investment of $232 million had grown in value to $7.69 billion as of December 31, 2021.

© 2022 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.