PetroChina (PTR) Continues To Rise Even After Buffett Sells
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Typically, when Warren Buffett sells, a stock falls. Warren Buffett has been selling shares in PetroChina (NYSE: PTR), but the stock continues to rise with no top in sight. It has risen from $175 to $254 in the past 7 days.
There is no explanation for why Buffett sold, but one could speculate that he fell to political pressures and/or he senses a bubble environment in China stocks.
In recent weeks, Warren has sold stakes in Union Pacific (NYSE: UNP), Norfolk Southern (NYSE: NSC), Ameriprise Financial (NYSE: AMP), H&R Block (NYSE: HRB) and Pier 1 Imports (NYSE: PIR).
PetroChina Company Limited is engaged in a range of petroleum-related activities through its four business segments: Exploration and Production, Refining and Marketing, Chemicals and Marketing, and Natural Gas and Pipeline.
There is no explanation for why Buffett sold, but one could speculate that he fell to political pressures and/or he senses a bubble environment in China stocks.
In recent weeks, Warren has sold stakes in Union Pacific (NYSE: UNP), Norfolk Southern (NYSE: NSC), Ameriprise Financial (NYSE: AMP), H&R Block (NYSE: HRB) and Pier 1 Imports (NYSE: PIR).
PetroChina Company Limited is engaged in a range of petroleum-related activities through its four business segments: Exploration and Production, Refining and Marketing, Chemicals and Marketing, and Natural Gas and Pipeline.
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