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Warren Buffett Is Betting on a Stock the Market Doesn't Like

·4 min read
Warren Buffett Is Betting on a Stock the Market Doesn't Like

In the first quarter of the year, Warren Buffett and his company Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) bought close to 9 million shares -- a roughly 2.9% stake -- in the large digital bank Ally Financial (NYSE: ALLY), which specializes in auto lending. With inventory still being challenged and used car prices soaring, Ally has flourished, generating strong financial results since the pandemic started. Buffett and the market are clearly at odds here.