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Berkshire’s shopping trip included Macy’s
Macy’s got a nice little pop Monday after a regulatory filing revealed Berkshire Hathaway opened a new position in the retailer during the first quarter. The stake was valued at roughly $55 million — not exactly couch-cushion change, but basically pocket lint for Berkshire.
That’s why the market is paying attention. When Berkshire wanders into a name, investors instantly start doing the ‘who on the team made this call?’ detective routine. CNBC says many think the buy may have been made by Ted Weschler, one of Berkshire’s investing lieutenants, who has a reputation for making more active bets.
Why traders care
This isn’t a magical “Buffett bought your stock” fairy tale. Macy’s still has to deal with the usual department-store headaches: traffic, margins, and whether shoppers are actually in the mood to spend on home goods instead of doomscrolling and buying nothing.
But a fresh Berkshire stake can still matter because it can:
- put a little spotlight on a beaten-down stock,
- encourage value investors to take a second look,
- and give bulls something to point at besides a chart that’s still trying to find its footing.
The chart is doing its best impression of a coin flip
The stock is up a bit, but the technical picture is still messy. Macy’s is hovering near its 50-day average, while the 100-day sits overhead like a bouncer at the club door. Momentum is also not exactly screaming “party time,” with MACD still below its signal line.
So the market’s message is basically: interesting filing, but show me follow-through. If Macy’s can push through the overhead resistance zone, this could turn into more than a headline blip. If not, it’s back to trading like a stock that needs a stronger story.
Big picture: Berkshire’s filing doesn’t fix Macy’s fundamentals, but it does put a well-known name in the corner of the bull case — and sometimes that’s enough to get traders leaning in.