Bank of America Corp. (BAC.US) slumped more than 2.05% today after Warren Buffett’s Berkshire Hathaway Inc.(BRKB.US) sold between Aug 15 and Aug 19 more than $550 million worth of shares, further shrinking its stake in the bank. The bank's shares have risen nearly 16% since the beginning of the year. Thus, the Buffett-managed conglomerate is increasing its stock of available cash.

During the quarter, Berkshire reduced its stake in Bank of America by a total of 104.39 million shares. Source: Bloomberg Financial LP
Following this news, the company's shares broke out below the short-term consolidation zone. Source: xStation
Daily Summary: Wall Street Recovers as Micron Shines and Oil Prices Rise Again
Stock of the Week: Micron. The Memory Cycle in the Age of Artificial Intelligence
US Open: Micron restores faith in the never-ending AI boom
Record after record: Micron smashes Q4 results, server overload crashes website, stock surges post-market