HP stock hits record high on Berkshire buy

LONDON: Warren Buffett’s Berkshire Hathaway has found another way to put even more of its money to work, purchasing a stake in HP valued at more than $4. 2 billion.
The disclosure that the billionaire investor’s company holds about 121 million shares in the computer maker sent HP’s stock surging to a record. The shares gained as much as 19% on Thursday to $41. 5 in New York. Berkshire bought some of the stock earlier this week in multiple transactions, according to a regulatory filing late on Wednesday.
“Berkshire Hathaway is one of the world’s most respected investors and we welcome them as an investor in HP,” an HP spokesperson said.

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