Warren Buffett’s Berkshire Hathaway Just Bet Nearly $1 Billion on This IPO Stock (Hint: It’s Not SpaceX)
Warren Buffett spent nearly 60 years at Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) buying businesses with durable competitive advantages, strong cash flow, and capable management teams. Now, Berkshire is doubling down on an unfamiliar technology company that went public just three months ago.
On Oct. 14, a filing with the Securities and Exchange Commission (SEC) revealed that Berkshire is investing $330 million in Bending Spoons (NASDAQ: BSP). This follows a $600 million investment during the company’s initial public offering (IPO) in July.
What makes this investment interesting isn’t simply Berkshire’s involvement. It’s how closely Bending Spoons’ business model resembles Buffett’s own investment philosophy.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.