- Warren Buffet's Berkshire Hathaway Inc (NYSE: BRK-B) acquired 121 million shares of HP Inc (NYSE:HPQ), the latest in significant investments according to the SEC filings.
- Berkshire acquired an 11.4% stake in HP, worth about $4.2 billion based on HP's April 6 closing price of $34.91, Reuters reports.
- Investors had lost interest in companies like HP over concerns of surging inflation, curbing consumer spending, coupled with the Fed rate hike.
- Investors chased companies less dependent on the economic cycle to drive sales ditching the computer makers despite their cheapest valuations.
- Recently Berkshire agreed to buy insurance company Alleghany Corp (NYSE:Y) for $11.6 billion.
- Price Action: HPQ shares traded higher by 13.60% at $39.66 in the premarket on the last check Thursday.
- Photo by włodi via Flickr
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Here's Why HP Shares Are Trading Higher Premarket
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks