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Dillard’s stock soars 46% after Warren Buffett’s deputy reveals 6% stake

  • A vote of confidence from one of Warren Buffett’s lieutenants sent Dillard’s stock up as much as 46% on Monday.
  • Ted Weschler, an investment manager at Buffett’s Berkshire Hathaway, disclosed an almost 6% stake in the ailing department-store chain on Friday.
  • The value of Weschler’s 1.08 million shares soared to as high as $66 million on Monday.
  • Dillard’s net sales tumbled 41% year-on-year in the six months to August 1, fueling a $171 million net loss.
  • Visit Business Insider’s homepage for more stories.

Dillard’s stock surged as much as 46% on Monday after Warren Buffett’s deputy disclosed a nearly 6% stake in the ailing department-store chain.

Ted Weschler, who helps Buffett manage Berkshire Hathaway’s investment portfolio along with Todd Combs, revealed the personal holding in a Securities and Exchange Commission filing released on Friday. The value of Weschler’s 1.08 million Dillard’s shares jumped to as much as $66

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Dillard’s stock jumps after Warren Buffett’s deputy reveals 6% stake in the struggling department-store chain

Warren Buffett and Ted Weschler take part in a Yahoo Finance interview
  • A vote of confidence from one of Warren Buffett’s lieutenants sent Dillard’s stock up as much as 19% in pre-market trading on Monday.
  • Ted Weschler, an investment manager at Buffett’s Berkshire Hathaway, revealed an almost 6% stake in the ailing department-store chain on Friday.
  • Weschler’s 1.08 million Dillard shares were worth about $45 million at the close of trading on Friday.
  • Dillard’s net sales tumbled 41% year-on-year in the six months to August 1, fueling a $171 million net loss.
  • Visit Business Insider’s homepage for more stories.

Dillard’s stock climbed as much as 19% in pre-market trading on Monday, after Warren Buffett’s deputy disclosed a nearly 6% stake in the ailing department-store chain.

Ted Weschler, who helps Buffett manage Berkshire Hathaway’s investment portfolio, along with Todd Combs, revealed the personal holding in a Securities and Exchange

Read More