Bank of America Corporation (BAC): I Don’t Know If Buffett Or The Number Two Sold Bank Of America, Says Jim Cramer

We recently published Jim Cramer Discusses These 10 Stocks & AI-Led Disinflation. Bank of America Corporation (NYSE:BAC) is one of the stocks Jim Cramer recently discussed.

Bank of America Corporation (NYSE:BAC) is one of the largest domestic banks in America. Its shares have gained 6.6% year-to-date and have recovered all losses since President Trump’s Liberation Day tariff announcement. However, the stock dipped by 3.6% in July after HSBC’s downgrade. Yet, soon, the shares would rise after Bank of America Corporation (NYSE:BAC)’s latest earnings report. Another driving factor behind the somewhat weak share price performance is Berkshire Hathaway’s decision to sell the stock to reduce its investment by more than 30%. Cramer discussed whether Warren Buffett was behind the investment firm’s decision to sell Bank of America Corporation (NYSE:BAC):

“I know, I mean I was thinking about the fact that they’re selling Bank of America, is that Buffett selling Bank of America or like the number two selling Bank of America.”

A professional banker providing consultation to a customer in the security of his office.

Previously, Cramer commented in detail about Bank of America Corporation (NYSE:BAC)’s performance after the Berkshire selling:

“Let me ask you something. Why is Bank of America stock still just selling at 13 times earnings? The franchise has been putting up consistently terrific earnings. Brian Moynihan’s doing a great job. I think the stock’s cheap because of the relentless selling from Berkshire Hathaway. One day, Berkshire will finish selling, and when that happens, you’ll be paying a much higher price-to-earnings multiple for this fine bag. My advice: Don’t wait for them to finish. There’ll be a good quarter.”

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Disclosure: None. This article is originally published at Insider Monkey.