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Why HP Stock Is Soaring This Week

TheMotleyFool

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HP (NYSE: HPQ) stock is jumping this week following news that Berkshire Hathaway, which is led by CEO Warren Buffett, made a significant investment in the company. The PC and printer maker's share price was up roughly 13.7% from the previous week's market close as of 1:15 p.m. ET on Thursday, according to data from S&P Global Market Intelligence.

Securities filings made by Berkshire Hathaway revealed that it had purchased roughly 121 million shares of HP stock, which was worth roughly $4.2 billion based on the price at yesterday's market close. The purchase made Buffett's company HP's largest stock holder, with an ownership position of roughly 11%.

Image source: The Motley Fool.

Source Fool.com

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