Berkshire Hathaway reduces holdings in entertainment company

  • Paramount Global shares fall 6.9% after Warren Buffett cuts stake
  • Berkshire Hathaway sells about a third of its stake in Paramount
  • Paramount now has 63 million shares held by Berkshire Hathaway
  • Paramount’s stock price drops to $12.28 in post-market trading
  • Shares have fallen 11% this year and 46% in the last 52 weeks

Shares of Paramount Global were trading in the red after hours on Wednesday following the news that Warren Buffett’s Berkshire Hathaway pared its holdings in the company. Berkshire Hathaway sold about a third of its stake in Paramount and now holds about 63 million shares in the entertainment company. Paramount’s stock price dropped 6.9% to $12.28 in post-market trading on volume of more than 3.7 million shares. The shares have fallen 11% this year, and 46% in the last 52 weeks.

Public Companies: Paramount Global (N/A), Berkshire Hathaway (N/A)
Private Companies:
Key People: Warren Buffett (Chairman and CEO of Berkshire Hathaway)

Factuality Level: 8
Justification: The article provides factual information about Warren Buffett’s Berkshire Hathaway selling a third of its stake in Paramount Global, the number of shares Berkshire Hathaway now holds, the current stock price of Paramount, and the stock’s performance over the year. The information is specific and verifiable.

Noise Level: 7
Justification: The article provides some relevant information about Warren Buffett’s Berkshire Hathaway reducing its holdings in Paramount Global. However, it lacks analysis, context, and actionable insights. It mainly focuses on stock price movements and does not explore the consequences of this decision on the company or its stakeholders. The article also lacks evidence, data, or examples to support its claims.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Paramount Global

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the trading of shares of Paramount Global and the impact of Warren Buffett’s Berkshire Hathaway reducing its holdings in the company.

Reported publicly: www.marketwatch.com