Why Louisiana-Pacific Stock Is Soaring Today
Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) made a big bet on forestry and building products manufacturer Louisiana-Pacific (NYSE: LPX) in the third quarter. On Tuesday, investors are following the Oracle of Omaha's lead.
Shares of Louisiana-Pacific are up as much as 12.3% on Tuesday following the release of Berkshire's most recent list of new investments.
Although Warren Buffett doesn't make all of the calls on Berkshire investments these days, the company's moves in and out of stocks are still closely watched by the markets. In a regulatory filing release Monday night, Berkshire unveiled a new 5.8 million-share position in Louisiana-Pacific that amounts to a 6.7% stake in the timber and building products company.
Source Fool.com
