Let me see if i understand this correctly...an analyst does some 'research' which tells him that 9% more people plan on buying their holiday gifts at Best Buy then last year. So based on something that hasn't even transpired, the market cap on this stock goes up 100M+
Does anyone else think this is bizarre. Where is this guy's research data and who knows if this was even a valid study or if it was sponsored by a legitimate third party. Not only that, but who's to say that those same people won't buy at WMT or Target once they see the doorbusters at those stores. This is just utterly ridiculous market BS. I know that the market is full of logic that doesn't make sense, but come on!
I agree with you. After loking at the recent insiders selling I am going to short this tomorrow look at this over 1.5 million shares were sold by Schulze also look at earlier dates
Oct 3, 2013 SCHULZE RICHARD M
Beneficial Owner (10% or more) 270,000 Indirect Automatic Sale at $37.59 - $37.63 per share. 10,155,0002
Oct 2, 2013 SCHULZE RICHARD M
Beneficial Owner (10% or more) 546,334 Indirect Automatic Sale at $37.61 - $37.62 per share. 20,550,0002
Oct 1, 2013 SCHULZE RICHARD M
Beneficial Owner (10% or more) 892,000 Indirect Automatic Sale at $37.93 - $37.94 per share. 33,838,0002
Agree with you, but maybe those analysts, along with useless high frequency traders, by taking advantage of limited liquidity in this market, could push the stock a little bit higher, but I am sure so many things could go wrong in the future. This is a trading stock, so it will move way above the fair value. My impression is someone wanted to play it this year, let them play I just watch, but next year this is a sure short.
You do know that Mr Schultze announced some weeks ago he was selling his shares to fund his family foundation. Registered with the SEC they will be sold from October to March. So it's no spur of the moment selling