Berkshire Hathaway, led by CEO Greg Abel since January, bought an additional $330 million of Bending Spoons (BSP) shares, bringing its stake to 4% after its July IPO purchase. The latest deal was a private placement of 10 million shares at $33 each, while the stock traded at $47 before the announcement and jumped to $53 on Oct. 14. Bending Spoons' second-quarter revenue rose 126% to $311 million, and operating margin improved from 32% to 34%, though growth was driven by acquisitions and the company did not disclose results for individual brands. It reported $4.09 billion in net debt and a 2.4 leverage ratio, which the article contrasts with the cash-generating companies Berkshire usually buys. The article suggests the move shows Abel is willing to look beyond the company's traditional industries.
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