HP Soars to record high After Buffett’s Berkshire buys a stake

HP Soars to record high After Buffett’s Berkshire buys a stake

Bloomberg: Warren Buffett’s Berkshire Hathaway Inc. has found another way to put even more of its money to work, purchasing a stake in HP Inc. valued at more than $4.2 billion.

The disclosure that the billionaire investor’s company holds about 121 million shares in the computer maker sent HP’s stock surging to a record. The shares gained as much as 19% on Thursday to $41.47 in New York. Berkshire bought some of the stock earlier this week in multiple transactions, according to a regulatory filing late Wednesday.

“Berkshire Hathaway is one of the world’s most respected investors and we welcome them as an investor in HP,” an HP spokesperson said.