HP Stock Skyrockets After Warren Buffett’s Berkshire Reveals $4.4 Billion Investment

HP Stock Skyrockets After Warren Buffett’s Berkshire Reveals $4.4 Billion Investment

Share to Linkedin Shares of legacy technology giant HP Inc. surged Thursday morning after legendary investor Warren Buffett's Berkshire Hathaway disclosed the purchase of more than 104 million shares this month—becoming HP's largest shareholder and marking the storied conglomerate's latest investment in a crop of legacy stocks. The legendary investor has helped the legacy technology giant's stock reach its highest price in ... [+] years. HP shares skyrocketed as much as 18% Thursday by 10:30 a. m. ET to more than $41, the stock's highest level since its split from enterprise-focused segment Hewlett Packard Enterprise in 2015. Fueling the morning boost, Berkshire disclosed in a series of regulatory filings Wednesday evening that it holds nearly 121 million HP shares—a roughly 11. 5% stake worth about $4. 4 billion at the time and $5 billion after the Thursday surge. According to the filings, Berkshire, through various subsidiaries, held a more than 10% stake in the firm on Friday and piled on to its investment every day this week, buying 11. 1 million shares for about $398. 5 million. Shares of Berkshire, which did not immediately respond to Forbes' request for comment, ticked down 0. 5% Thursday to $514, 545; they're up