At first glance, HP Inc. (NYSE: HPQ) looks like one of the easiest buys in the market right now. The stock is trading at a price-to-earnings (P/E) ratio of around 7 and offers a dividend yield of over 6%. That kind of combination is extremely rare, and it immediately raises the question of whether investors are being handed an obvious opportunity.
Yet, to take a quick look at the stock’s chart, the market clearly doesn’t agree. Shares have been locked in a multi-month downtrend, and last set an all-time high in 2022. The fact that they’re also trading at the same levels as they were in 1999 doesn’t exactly scream excitement either.
