Warren Buffett-backed stock plunges to 2.5-year lows—Here's why
OXY(OXY) Finbold·2024-10-23 16:51
Despite what Warren Buffett’s overall reputation might suggest, not all of his stock picks have been winners.In 2024, this fact is showcased by the fortunes of ‘The Oracle of Omaha’s’ sixth-largest bet and second-biggest energy holding, Occidental Petroleum (NYSE: OXY), which is, at press time on October 23, trading near its 2.5-year lows.Indeed, OXY stock – which made up 5.6% of the Buffett portfolio, per the latest 13-f filing – is 13.24% in the red year-to-date (YTD) and an even deeper 17.06% down in the ...