HP Stock Skyrockets After Warren Buffett’s Berkshire Reveals $4.4 Billion InvestmentShares of legacy
technology giant HP Inc. surged Thursday morning after legendary investor
Warren Buffett’s Berkshire Hathaway disclosed the purchase of more than 104 million shares this month — becoming
HP’s largest shareholder and marking the storied conglomerate’s latest investment in a crop of legacy stocks.
HP shares
skyrocketed as much as 18% Thursday to more than $41, the stock’s highest level since its split from enterprise-focused segment Hewlett Packard Enterprise in 2015.
Berkshire disclosed in a series of regulatory filings that it holds nearly
121 million HP shares — a roughly 11.5% stake worth about $4.4 billion at the time and $5 billion after the Thursday surge.
According to the filings, Berkshire, through various subsidiaries, held a more than 10% stake in the firm on Friday and piled on to its investment every day this week, buying
11.1 million shares for about $398.5 million.
