[Zannn]

More on the news. Only Buffett has stake of this size going through clearing house.

BYD is my biggest holding jn HK and best performer. I am reluctant to part with it.

The stock is overvalued but not as bad as Tesla. For such cases there is no consistent strategy for a  good selling point when growth is so sky-high. 

BYD Sinks After Berkshire-Sized Stake Appears in Clearing System
Bloomberg2022-07-12 14:44
BYD COMPANY
-11.86%
Berkshire Hathaway
+0.00%
Post
(Bloomberg) -- BYD Co. shares sank the most in nearly two years after a stake matching the size of Berkshire Hathaway Inc.’s position in the Chinese electric-car giant appeared in Hong Kong’s clearing system, fueling speculation that Warren Buffett’s company may be adjusting its holdings.

The 20.49% stake -- identical to the size of Berkshire’s last reported holding in Hong Kong as of December -- entered the Central Clearing and Settlement System, exchange data as of Monday showed. While there are many reasons a stake might appear in CCASS, such moves are often seen by traders as precursors to sales because shares must enter the system before transactions can be settled.

“Only Berkshire would have that many shares as a single investor, so the market is worried Buffett is planning to sell,” said Steven Leung, executive director at UOB Kay Hian in Hong Kong.

Even though Buffett has given no obvious hints that he’s souring on BYD, the possibility that one of the most successful investors of all time might be paring his stake was enough to send the stock down as much as 14%. Before Tuesday’s tumble, BYD had posted a two-year gain of nearly 300% in Hong Kong trading, making it among the city’s top-performing large cap stocks and trouncing the 128% advance in Elon Musk’s Tesla Inc. over the same period.

Berkshire Hathaway didn’t immediately respond to a request for comment after normal business hours, while BYD couldn’t immediately be reached for a response. Citigroup Inc., which is indicated as the custodian for most of the new shares in CCASS, declined to comment.

BYD shares held most of their losses even after the Securities Times reported that the stake held by Buffett’s firm remains unchanged. The newspaper cited an unidentified official at the automaker’s securities affairs office. The stock was down 9.4% as of 2:34 p.m. in Hong Kong

Told u bro just sell