Buffett Will Buy OXY Before Musk Buys TWTR

JC Parets
July 8, 2022

There’s been a lot of buzz about the dwindling likelihood of a Twitter $TWTR-Elon Musk tie-up this week.

As Musk’s team has reportedly cut off deal discussions around funding, the talking heads are telling us what price has been suggesting for months now: It’s not happening.

We think the odds of an Occidental Petroleum $OXY takeover by Berkshire is far greater than any buyout chances left for Twitter.

Last night, the latest Berkshire filing hit the wire and revealed a purchase of approximately $700 million worth of shares.

We’re monitoring this one closely, as we think Buffett could make an outright purchase in the coming weeks and months.

In a completely unrelated transaction, Director Ronald Olson revealed an acquisition worth $661,182 in Berkshire Hathaway $BRK.B.

Here’s The Hot List, with data through July 7, 2022:

The only 13G on our list was filed by Angelo, Gordon & Co, revealing an ownership stake of 6.90% in SilverBow Resources $SBOW.

Over in Washington, there was some activity from Rep. Virginia Foxx of North Carolina, who reported a position in Clearway Energy $CWEN.

In the options market, there was bullish flow in Boston Scientific $BSX, Crocs $CROX, and Huntsman Corporation $HUN.

Have a great weekend. We'll be back Monday with more insider action.

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All Star Charts Team

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