Appaloosa Capital has boosted its stake in Whirlpool to 5.5 million shares, now owning 9.8% of the company. Despite Whirlpool’s stock plunging 40% since July—hitting a 5½-year low—David Tepper’s move sparked a modest rebound, marking the first weekly gain in three weeks.

Whirlpool continues to face pressure from weak U.S. sales, shrinking margins, and rising debt, prompting a 48.6% dividend cut in July. Tepper’s bet suggests confidence in a turnaround, even as headwinds persist.