- 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.
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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