Nary a single Bull on here makes me think we've hit real bottom with or without a buyout. This isn't Circuit City and I believe Schulze will make a bid by option expiration in a few weeks. My guess is $19 per share gets it done. When no one wants it, it's time to grab some and that's never easy or popular, but often it IS profitable.
$16 would probably get it done at this point. Maybe the management team can turn this company around. With the Countryheaded back into recession under Obama's cocky Socialist regime, neither a turn-around, nor a buy-out has a high likelihood of success.
I have seen companies with a lot less going for it than BBY execute a successful turnaround. Internet retailers are likely going to have to collect sales tax. BBY will get out of its unprofitable leases, over time. And eventually, the American economy will recover. BBY has sufficient cash flow to survive for a few years.
The selling has been overdone. But, no one is a hurry to take the risk of a turn around that will take several years.
I do think the company is still viable and makes money. I see too much negative sentiment that is not supported by adequate data. I am not sure about the buy-out. It may or may not happen. AMZN had been tormenting Best buy for quite some time. AMZN booked a straight operating loss last quarter (to thin a sales margin?) besides losing its tax advantage gradually as states are forcing it to collect tax on sales. Is this not a favorable tail wind for Best Buy.
As more states collect sales tax, its good for BBY.Its true AMZN reported loss for last QTR and trades at NMF P/E . Ong seems to be short selling BBY and praying it to go down.He may get burned BIG in the end. I agree that likely buyout will come following the December Options expiration.