Paramount Stake Dumped: Warren Buffett Sells Entire Investment at Loss
In Omaha, Nebraska, renowned investor Warren Buffett shocked many at Berkshire Hathaway’s annual shareholder meeting by announcing the complete sale of the conglomerate’s stake in Paramount, incurring significant losses in the process. This decision comes after Berkshire Hathaway initially invested in Paramount’s class B shares in the first quarter of 2022, which have since seen a tumultuous decline with a dividend reduction, earnings underperformance, and the departure of the CEO, resulting in a nearly 24% …