Hewlett-Packard Plunges

Shares of Hewlett-Packard ($HPQ) plunged as low as $15.15 today as Meg Whitman projected a profit next year between $3.40 and $3.60 per share. Wall Street has been expecting $4.18 per share.

This stock has been absolutely clobbered. Earlier this year, HPQ got to $30 and in 2010 it got as high as $49. Two years ago, when the stock was at $42, I was warning investors to stay away from HPQ. I reiterated that advice again, again and again.

As an investor, whenever you hear the words “growth through acquisition” — run!

Posted by on October 3rd, 2012 at 2:45 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

Tickers: