For years, HP Inc. (HPQ) has been a company investors bought for the dividend, not the upside. A slow PC and printer business that pays a generous quarterly check, has a single-digit earnings multiple, and almost no story.
Then last Friday happened.
HPQ jumped sharply in a single session, up 15%, according to IBTimes. The buyers were not reacting to anything HP said. They were reacting to a rival’s earnings, five trading days before HP’s own report.
For the first time in a long time, investors are betting HPQ might be something other than a yield trap.
