This Company Just Bought $700 Million in RH Stock. Is It a Buy Now?
Shares of luxury furniture company RH (NYSE: RH) are down around 67% from their all-time high, as of this writing. And one company is actively buying this dip, spending more than $700 million buying RH stock from November through January. For perspective, its market capitalization (the total value of all its shares) is just $5.5 billion, so this was an enormous purchase.
Some might think the mystery company is Warren Buffett's Berkshire Hathaway. After all, it already owns nearly 2.4 million shares of RH. And Buffett is a known value investor.
However, Berkshire Hathaway wasn't a buyer of RH stock in its most recent update -- although Buffett's wisdom will be helpful in this article. In fact, the buyer of RH stock was none other than RH itself. And this is a very bullish signal from management. Does this make RH stock a buy now?
Source Fool.com
