Warren Buffett’s Shockingly Successful Tech IPO Buy Is Up 200% in 3 Months
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Berkshire Hathaway lost US$47.9 billion in the first quarter of 2020, and it appears imperative for the company to recover and fast. The opportunity came in September this year with the Initial Public Offering (IPO) of an American cloud-data platform company.
Warren Buffett avoided technology companies for most of his investing career because of profitability issues. However, his conglomerate bought millions of shares of Snowflake totalling US$735 million. The investment value tripled in less than three months, resulting in paper profits of nearly $1.4 billion.