Bending Spoons shares soar after Berkshire boosts bet
BSP•Bending Spoons shares rose as much as 11.3% to $59.50 after Berkshire Hathaway invested another $330 million, bringing its ownership in the company to 4%. The shares surged 41% the previous day.
1. Berkshire increases stake
Bending Spoons shares climbed as much as 11.3% on Thursday to $59.50, their highest level since their summer public debut, after Berkshire Hathaway invested another $330 million. Berkshire had invested $600 million in the company’s IPO, and now owns 4%. The shares opened at $31 on July 1 after the offering was priced at $29 on June 30; Thursday’s high topped the previous post-IPO intraday high of $58.94, reached on August 11.
2. Analyst ratings
Of 12 analysts covering the stock, eight rate it “strong buy” or “buy,” three rate it “hold” and one recommends “sell.” The median price target is $48.
