Warren Buffett loses $1 billion in 2 days after Kraft Heinz disappoints again

By Holdings, Investment

Warren Buffett loses $1 billion in 2 days after Kraft Heinz disappoints again

Warren Buffett took a $1 billion loss as Kraft Heinz stock plunged 11% in two days.

Berkshire Hathaway’s 27% stake in the food giant shrank in value to $8.7 billion from $9.8 billion over Thursday and Friday.

Kraft Heinz on Thursday reported sharp declines in fourth-quarter sales and profits.

Fitch cut the credit rating on Kraft Heinz bonds to “junk” on Friday.

Markets Insider

https://markets.businessinsider.com/news/stocks/warren-buffett-loses-billion-2-days-kraft-heinz-disappoints-earnings-2020-2-1028907592

Kraft Heinz’s Junk Downgrade Rekindles Bond Market Jitters – Bloomberg

https://www.bloomberg.com/news/articles/2020-02-14/kraft-heinz-cut-to-junk-by-fitch-following-lackluster-earnings

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