Tesla Gets A Seat at The Big Boy Table and Berkshire Hathaway Bets on Top Vaccine Makers
Berkshire Hathaway recently disclosed that in the third quarter they made new investments in Merck & Co and Pfizer Inc. It is said that the company began adding to their positions in health stocks just months ahead of the announcement that Pfizer and BioNTech’s vaccine protects the large majority of people from COVID-19.
Warren also decided to cut down on investments in the banking sector and trimmed its stake in Wells Fargo and JPMorgan by 96%.
Now that’s a haircut!
Tesla will be joining the big leagues on December 21st of this year with its admittance to the S&P 500. Based on recent closing prices, the company will already be a part of the top ten largest companies and a part of the benchmark index.
Following the news, Tesla shares rocketed by over 13% in after-hours trading. This will make it the largest company ever to be added to the S&P.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.