This stock was beating up on bad sell and so on. It went down to the level where it is not going down any more. Hated stock on Wall Street.
Anything beat up that bad just got a little good news will fly. Simple. BBY went to $11+ sitting and waiting... It pop even bad news on all but the company was "SAFE FOR NOW." Sure it will POP on that "SAFE FOR NOW" kakaka... I hope that clear out for you. BUYING at this level is very very dangerous. I would stay out and wait.
Ah....very refreshing to get a response other than a pumper with nothing but a hope and a prayer for a buyout. I wanted to get the perspective of the long investor to see why they would support this stock north of 14 if the buyout possibility was not in play. I think all the longs think that a buyout is a sure thing. I have researched the #$%$ out of this stock and all i see is Schulze is "Trying" to get support to take the company private. Usually this type of move is not telegraphed and catches most people by surprise. That is why i question the validity of a takeover. The private equity firms know that the minute they decline joining Schulze in a takeover the stock will tank. I may be wrong but I think BBY is headed lower.
Good question Cheese and it deserves a thoughtful answer but you won't find one here. This is a stock that lives and dies on rumors of news that never comes. Every couple months takeover rumors push it up only to dissipate within days due to lack of real news follow-up.
I think shorts got a real scare last week and many of those in the money (or running out of time) decided to yell "SELL MORTIMER, SELLLLLLLLLLL............". That can squeeze a stock up real fast with huge volume, just like it did.
Today the stock is dead in the water. Both buyers and sellers are on strike. Any whiff of news could push this up a buck or down three. Risk is to the upside in my opinion and that is why I shorted Friday.