Warren Effect: Chevron and Verizon Rise while Apple Falls thanks to Warren Buffet.
Chevron stock rose 4.1% and Verizon stock climbed 3.9% after Warren Buffett- the founder of Berkshire Hathaway, revealed earlier today, through a SEC regulatory filing, a $8.6 billion stake in Verizon and a $4.1 billion stake in Chevron.
Apple, on the other hand, recorded a 0.8% fall in its stock price after Berkshire Hathaway, Buffet’s company, reduced its stake in the company. Despite the reduction in its stake, Berkshire Hathaway still remains the largest common share holder in Apple. It (BH) holds approximately $121 billion worth of Apple stocks in its portfolio.
Quick fact, with the $8.6 billion bump in Verizon, Verizon constitutes one of the Berkshire Hathaway’s top six largest holdings.
How do you think Buffet’s investment will influence the trading decisions of retail traders? Should traders go long or short on Verizon Stocks