HP shares are trading lower after Warren Buffett on Wednesday reported the sale of 5,502,172 shares of HP at an average price of $28.81 per share in a Form 4 filing.
Portfolio Pulse from Benzinga Newsdesk
Warren Buffett has sold 5,502,172 shares of HP at an average price of $28.81 per share, according to a Form 4 filing. This has led to a decrease in HP's share price.
September 14, 2023 | 12:57 pm
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NEGATIVE IMPACT
Warren Buffett's sale of over 5.5 million shares has negatively impacted HP's share price.
The sale of a large number of shares by a prominent investor like Warren Buffett can lead to a decrease in the share price due to the perception of decreased confidence in the company's performance. This is likely the cause of the drop in HP's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100