The stock of HP has soared after Warren Buffett's Berkshire Hathaway announced a $4.4 billion investment
HP Inc. stock soared on Thursday morning after Berkshire Hathaway, led by famed investor Warren Buffett, announced the purchase of more than 104 million shares this month, making it HP's largest shareholder and the storied conglomerate's latest investment in a slew of legacy firms.
HP shares soared 18 percent to more than $41 on Thursday, reaching their highest level since the company split from enterprise-focused Hewlett Packard Enterprise in 2015.
Berkshire Hathaway revealed in a series of regulatory papers that it owns over 121 million HP shares, or about 11.5 percent of the company, valued at $4.4 billion at the time and $5 billion following the Thursday jump.
Berkshire Hathaway, through several companies, according to the papers.
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