I love BestBuy... both as a customer & investor. BBY trades at a super-low p/e... being dumped on by everyone.... pays a nice dividend... makes about $1.5 billion a year or $3.50-3.80/eps diluted for ‘13... aggressively buying back shares.... and now I notice there’s a sizable short position in its shares. As of 5/15/12, there’s a whopping 54.6 mill shs short vs. less than 343 mill shs o/s; for a 15.9% short position. As long as BestBuy’s Board of Directors stays the course of emphasizing profitable lines; right-sizing floor space w/ more doors & less floors; paying a dividend; staying profitable; and continuing to aggressively repurchase shares, while the shorts eventually have to cover.... I think BBY easily gets back to $35+.
That means it will touch $15 soon. I was at Best buy yesterday and he is right it has become a Browse Buy intead of Best Buy. Very sad to see people just browsing and comparision shopping on their smart phones.