HP Shares Rise 16% After Investment By Warren Buffett

Shares of HP Inc. (HPQ) are rising 16 percent on Thursday's trading maintaining their gains from pre-market. The stock has been positively impacted by news of Warren Buffett's Berkshire Hathaway purchasing a major stake in the company.

According to regulatory filings, Berkshire has purchased nearly 121 million shares of the PC and printer maker. The stake was worth roughly $4.2 billion, based on Wednesday's closing price for the stock, amounting to around 11 percent.

The company shares jumped more than 15% in premarket trading Thursday on the news.

Currently at $41.10, the stock has traded between $26.11 and $41.18 during the past 52 weeks.

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