The Only Retailer That Seems To Go Up Almost Everyday
It must be the quality earnings they put out two weeks ago. Something is up with the trading of BBY each day outside the normal parameters of stocks in this market. Maybe it is the hit the shorts thesis along with the HFTs but you have to wonder if it ends at some point. I'm no market expert but there is something funny here for the past few months.
Have you guys been in the dark for the last few months. BBY is going up because they will benefit from the national trend to have the internet sellers be required to collect sales tax. This will help level out the price differentials BBY has faced.
AMZN has seen the writing on the wall and is building out their distribution centers to comply with this event. Since BBY killed off a lot of their competion, this leveling will help them. They still have to contend with the Wal-Mart's of the world, but they are al least going to make some money now.
It could take up to a couple of years to have this become Federal law, although there are around 12 of the biggest population states already collecting the tax through Amazon. The GOP is dragging their feet on the internet tax, just like they are doing with background checks on gun buyers. They "perceive" it as a new tax.
sorry dude but if you believe this you are very misguided. There will be some benefit to BBY with the sales tax but that has nothing to doi with what this stock has been doing the past several months. This is a company that has very little hope for future growth of their business. This stock goes up dail on very low volume with very little buy interest. what does that tell you?
I agree about something being seriously suspect about the way BBY trades. No retailer, or any other stock goes up almost every single day. I don't believe it's a hit the shorts scenario either, since the short position is not that high at 7.5%. My belief is that it is collusion between the Hedge Funds, Institutions, and Market Makers, to pump the price up to a certain point, even though there are no proven results yet for the company.
I don't understand why, I've never seen a turnaround story where the stock skyrockets before the turnaround has been successfully implemented and the financial results clearly demonstrate that. It is clear that they get upset when it actually sells down a quarter or even a dime over the previous day's closing price. This situation is an anomaly. We get a down close around once every two weeks with BBY. Something is amiss...