BYD plunges after Buffett trims his stake; one fund manager says it could be a warning sign

Warren Buffett’s Berkshire Hathaway trimmed its stake in the Chinese electric car maker BYD from 20.04% to 19.92%. The conglomerate sold 1.33 million shares of BYD for about $47 million — the conglomerate now owns 218.7 million shares, the filing showed. The stock has jumped more than 600% in the past 10 years. The company reported strong numbers for the first half of 2022 with its net income for the period totaling 3.6 billion yuan ($521 million), tripling from a year earlier. One fund manager said the move could be ‘warning signs that the market may be [coming] to a big correction” Yang Liu said China has room for more government stimulus measures, and said the current package was ‘not enough’ . . .