HP is the second stock to gain this week, after the announcement of a significant new shareholder.
Nope, not Elon this time, but Warren Buffet.
Yes, Warren Buffet's Berkshire Hathaway has revealed a major stake in HP, meaning it's now the largest shareholder in the company.
According to a securities filing, Berkshire purchased approximately 121 million shares of HP. That comes to a rough value of $4.2 billion based on the current price of HP. They do spend big, although its probably pennies for Berkshire.
That amounts to a stake of 11% in the computer and printer maker.
The stock has struggled to make any gains over the current year and has fallen behind the competitors in its market. However, it has been able to rally 11.72% premarket following the announcement.
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