This is one of those rare days that market has recovered almost 150 points and BBY sinks lower. Something is keeping this down today. Back and filling possibly after a quick move lately to $32.
It'll be awhile ..... stocker only has access to library computers one a week.
Earlier than I though which was late July. If they sell the China unit to $34 plus I believe. The refinancing they did yesterday was a good deal as far as cash flow and at very low rates pushed to 2019 very smart on Joly's part.
$31.44 up .47 after yesterday's weakness in a strong tape it kind of came out of nowhere possibly the big (281,000) ADP jobs number. I guess if more people are working there is a possibility more dollars get spent and consumers seem to prefer gadgets over clothes these days. Tomorrow is the real jobs number and ADP has missed before.
it wants to find near $32 today or tomorrow. It's up nice today in a flat market after a poor performance in a big up market yesterday but anything can happen at these new higher levels.
If this can get to $32 and it does seem to have momentum for now and news about selling the China business shows up after that I think it gets to $34 plus then I'm out. I'm hoping both happen within days of each other and it could be soon I believe. When they sold the Europe business last year the shares got a nice pop possibly the same happens. That's my scenario at least.
Which consumer market is growing the fastest? The answer China! And Best Buy wants to tear down camp and run? The Chinese have been going through an economic restructuring, and moving from an agricultural based economy to an industrial one, jobs are plentiful, the standard of living has greatly increased in the last decade and the people have dollars in their pockets - dollars to be spent on technological gadgets and electronics! ....Leave China now?! I don't think this will be the best idea for BBY...but what do I know?
Good luck to everyone.....