Charlie Munger (left) and Warren Buffett.
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HP’s stock just had its best day in more than two years, and Warren Buffett’s Berkshire Hathaway is almost $650 million richer because of it.
Berkshire revealed ownership of 121 million HP shares, in a filing with the Securities and Exchange Commission on Wednesday, making it the biggest stakeholder in the PC and printer maker, surpassing Vanguard.
HP shares surged 15% on Thursday, following the disclosure, boosting the value of Berkshire’s stake to $4.85 billion from $4.2 billion. It was the biggest rally for HP since the early days of the pandemic in March 2020.
The swift market reaction to Berkshire’s disclosed stake shows how much investors still pay attention to what Buffett says and does. HP is now Berkshire’s second-biggest tech holding behind Apple. Berkshire owns shares in the iPhone maker worth over $150 billion.
Buffett famously eschewed high-flying tech stocks before his holding company started…
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2022-04-07 20:08:47
