Buffett Sells Delta Stock
Apr 4, 20, 7:09 am
#1
Original Poster
Join Date: Sep 2002
Location: msp
Programs: AA PLT 3MM, DL PM 2MM
Posts: 1,093
Buffett Sells Delta Stock
Buffett sells some of their Delta and SW stock. Underscores how the Wizard (right or wrong) sees the challenges facing the airlines for the next year+ as well as Boeing and Airbus (who announced production cut back of the a320 by 50%). Sorry to see this but its the new reality post virus.
Apr 4, 20, 7:25 am
#3
Original Poster
Join Date: Sep 2002
Location: msp
Programs: AA PLT 3MM, DL PM 2MM
Posts: 1,093
Looks like about $390M USD (about 13M shares) ... regarding significance - Market cap right now about $14B USD.....sell by Birkshire has overall negative impact on institutional investors for the company and the space. IMHO.
Apr 4, 20, 9:15 am
#5
Join Date: Dec 2009
Location: RDU
Programs: DL DM(segs)/MM, Hilton DM, Marriott Ti (life Pt), TSA Opt-out Platinum
Posts: 2,774
Originally Posted by bcj1949
Looks like about $390M USD (about 13M shares) ... regarding significance - Market cap right now about $14B USD.....sell by Birkshire has overall negative impact on institutional investors for the company and the space. IMHO.
Apr 4, 20, 9:18 am
#6
Join Date: Dec 2009
Location: RDU
Programs: DL DM(segs)/MM, Hilton DM, Marriott Ti (life Pt), TSA Opt-out Platinum
Posts: 2,774
Originally Posted by UKtravelbear
How much is 'some'?
Originally Posted by UKtravelbear
What proportion is it of DLs entire stock?
Apr 4, 20, 9:53 am
#7
Join Date: Oct 2011
Posts: 93
Originally Posted by HDQDD
13 million shares. He still owns 58.9 million.
Roughly 2%. He still owns 9% or so according to my PDB napkin math.
Roughly 2%. He still owns 9% or so according to my PDB napkin math.
Apr 4, 20, 12:03 pm
#8
Join Date: Feb 2016
Programs: DL DM, SPG Plat 100/LT Gold, Marriott Plat, National Executive Elite
Posts: 2,578
Maybe it had to do with the video leaking of DL management talking about how not to disclose positive employee cases...
After all, Delta has been marketing how they are all about safety - Delta clean, the fogging, and for us to trust them (this is literally the new logo on their website)
How can customers trust them if they have staff members with symptoms, and who are awaiting test results, that they are still allowing to fly?
After all, Delta has been marketing how they are all about safety - Delta clean, the fogging, and for us to trust them (this is literally the new logo on their website)
How can customers trust them if they have staff members with symptoms, and who are awaiting test results, that they are still allowing to fly?
Apr 4, 20, 2:14 pm
#9
Join Date: Dec 2009
Location: RDU
Programs: DL DM(segs)/MM, Hilton DM, Marriott Ti (life Pt), TSA Opt-out Platinum
Posts: 2,774
Originally Posted by btonkid12345
Maybe it had to do with the video leaking of DL management talking about how not to disclose positive employee cases...
Originally Posted by btonkid12345
How can customers trust them if they have staff members with symptoms, and who are awaiting test results, that they are still allowing to fly?
The virus doesn't discriminate by employer. At this point, everyone should assume that everyone else either has it, or has been around someone who has. Remember as much as 25% of infected never get symptoms, and even in those who do, it can be a week or more after you're contagious before symptoms present. If you must go out, take precautions.
Apr 4, 20, 3:48 pm
#11
was cslovacek
Join Date: Feb 2008
Posts: 813
Originally Posted by bcj1949
Buffett sells some of their Delta and SW stock. Underscores how the Wizard (right or wrong) sees the challenges facing the airlines for the next year+ as well as Boeing and Airbus (who announced production cut back of the a320 by 50%). Sorry to see this but its the new reality post virus.
Apr 4, 20, 5:33 pm
#12
FlyerTalk Evangelist
Join Date: Sep 2002
Location: Chicagoland, IL, USA
Programs: WN CP, Hilton Diamond
Posts: 13,884
Head fake. Grabbing a capital loss perhaps (free money) and panicking people to sell, whereupon he swoops in. Stock dropped 8%. He will save a ton buying back in.
He sold less than 5% of his WN stock. Nothing.
He sold less than 5% of his WN stock. Nothing.
Apr 4, 20, 6:22 pm
#13
Join Date: Sep 2018
Location: Tacoma, WA
Programs: Delta Platinum Medallion, Bonvoy Gold, Hyatt Discoverist, Hertz President's Circle
Posts: 330
I'm still holding onto mine, even though I'm down $9 a share in the last 10 days. I assume it's going to drop further when they release what is sure to be a grim earnings report next week. I suspect it will probably hit $15-16 a share, at which time I'll hopefully not panic and will instead double my holdings at a significant discount.
Still hard to believe that we were at $50 a share a little more than a month ago. It's a good thing I'm not able to fly right now, so hopefully my savings will offset my losses from a brutal March.
Still hard to believe that we were at $50 a share a little more than a month ago. It's a good thing I'm not able to fly right now, so hopefully my savings will offset my losses from a brutal March.
Apr 4, 20, 6:24 pm
#14
Join Date: Sep 2018
Location: Tacoma, WA
Programs: Delta Platinum Medallion, Bonvoy Gold, Hyatt Discoverist, Hertz President's Circle
Posts: 330
Originally Posted by rrgg
Wow. He just bought $45m in a month ago.
Apr 4, 20, 6:42 pm
#15
FlyerTalk Evangelist
Join Date: Nov 2011
Location: Brighton. UK
Programs: BA Silver / VS /IHG Spire & Ambassador
Posts: 12,142
Originally Posted by HDQDD
13 million shares. He still owns 58.9 million.
Roughly 2%. He still owns 9% or so according to my PDB napkin math.
Roughly 2%. He still owns 9% or so according to my PDB napkin math.
