Sam,
Welcome to the HP Forum.
The ghost of my teenage past would say, "Wow! Bummer!"
Computers are not supposed to burn, emit burning smells, smoke, emit sparks... You get the picture.
You might take that notebook to a qualified tech and have it looked at to determine what happened and what it will take to get it fixed. Long distance diagnosis is not an option.
Frankly, if any of my notebooks emitted a smell of something burning, I would turn off the unit and not use it until I had it apart to see what happened to the inside.
You can call HP and ask about this -- there is a charge for repairs not made under warranty, of course.
Contact HP – USA - Phone Assistance
Warranty Required – USA and Canada
USA – Contact HP // Self-Help – Email - Chat
Click the KudosStar!
It is a nice way to say “Thank You” for the help.
Although I strive to reflect HP's best practices, I do not work for HP.