When Buffet speaks, people listen:
Warren Buffett's Berkshire Hathaway has sold off $900 million of Walmart stock, choosing to invest billions in airlines instead.
The sale, which leaves Buffett with nearly no shares in Walmart, comes as the US's largest traditional retailer has been rushing to catch up to Amazon and other online competitors.
Amazon's market value is now $356 billion, compared with Walmart's $298 billion. Last year, Buffett acknowledged that traditional brick-and-mortar retailers were struggling in the face of competition from the e-commerce giant.
Yes, but is he still long on Big Cola?
(Score: 0) by Anonymous Coward on Thursday February 16 2017, @05:25PM
The Walmarts of the world are already doing this, and if there isn't a startup out there looking to do the same as a cloud service for small shops, there probably will be soon. In the 90s we said information wants to be free. We were wrong, information wants to be monetized.