Warren Buffett's Chinese Car Company Sees Shares Tank 10% As Profits Plunge 99%

Is Warren Buffett going to give up his gains on BYD, the Chinese car company he’s been so bullish on?

The company just announced a 99% earnings collapse, according to Bloomberg, thanks to weak sales, continuing a string of disappointing turns for the company.

Mainland China sales are weak, it has delayed plans to export to the US, and recently 7 factories were seized by the government.

The severity of the decline obviously took the market by surprise.

Shares plunged 10%.


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