Warren Buffett Slashes Stake in GM: Wall Street Analyst Dan Ives Says It's Likely Due to "Potentially Bumpy" EV Launch
CEO Warren Buffett's Berkshire Hathaway published its stock holdings in its latest 13F filing on Aug. 14, providing an update on what stocks the investment conglomerate bought and sold in the second quarter. Notably, the investment conglomerate significantly reduced its stake in General Motors (NYSE: GM).
Berkshire sold 18 million shares of GM stock in Q2, representing a 45% reduction from its previous holdings. Senior Wedbush analyst Daniel Ives believes the Oracle of Omaha's decision to dump the auto stock may have been driven by a "potentially bumpy" push into the electric vehicle (EV) market.
So is it time to give up on GM?
Source Fool.com
General Motors Corp Stock
€41.00
2.300%
Currently there is a rather positive sentiment for General Motors Corp with 32 Buy predictions and 5 Sell predictions.
With a target price of 45 € there is a slightly positive potential of 9.76% for General Motors Corp compared to the current price of 41.0 €.
