Here's Why HP Shares Are Trading Higher Premarket

Warren Buffet's Berkshire Hathaway Inc (NYSE: BRK-B) acquired 121 million shares of HP Inc HPQ, the latest in significant investments according to the SEC filings.
Berkshire acquired an 11.4% stake in HP, worth about $4.2 billion based on HP's April 6 closing price of $34.91, Reuters reports.
Investors had lost interest in companies like HP over concerns of surging inflation, curbing consumer spending, coupled with the Fed rate hike.
Investors chased companies less dependent on the economic cycle to drive sales ditching the computer makers despite their cheapest valuations.
Recently Berkshire agreed to buy insurance company Alleghany Corp Y for $11.6 billion.
Price Action: HPQ shares traded higher by 13.60% at $39.66 in the premarket on the last check Thursday.
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