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HP stock soars after Warren Buffett's company buys over 11%

Warren Buffett
Posted at 10:33 AM, Apr 07, 2022

OMAHA, Neb. (AP) — Shares of HP are up 18% after Warren Buffett's company snapped up 11.5% of the company that makes printers and computers over the past week in another uncharacteristic investment for the billionaire in a tech company.

Buffett started the year telling his shareholders that he was still having trouble finding anything at attractive prices to invest Berkshire's nearly $147 billion cash in, but he has since announced an $11.6 billion acquisition of the Alleghany insurance conglomerate and bought more than $7 billion worth of Occidental Petroleum shares.

HP shares rose more than $6 to $41.12 in the first day of trading since the purchases were disclosed late Wednesday.

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