Warren Buffett has been selling off his stake in Apple, reducing it by two-thirds over the past year to $69.9bn, as part of a broader selling spree by Berkshire Hathaway totaling $166bn in stock sales. Buffett has also sold off $36.1bn of other stocks, including Bank of America, and reinvested the proceeds into short-term Treasury bills, bringing Berkshire’s cash position to a record $325.2bn. Operating profits have declined by 6% due to losses from hurricanes and asbestos-related liabilities, with Buffett emphasizing the importance of operating results over reported net income.
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Why Reddit Stock Is Jumping Today
Reddit (NYSE: RDDT) saw its stock rise 6.8% by 2:30 p.m. ET following the announcement of new AI tools, including the Community Intelligence offering and two associated services. The market's positive reaction to these developments has led to an increase in the company's share price. Need More Context? 🔎
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