About a 190,000 Short Trade At $29.655 On The Close
How's that for b@!!$ since BBY is near the recent lows and if something good happens with Russia/Ukraine soon this market may fly. Boy did these shares pick up late in the session most likely because volume came in late in the day.
A week later and the shares have rarely passes that level. That trade was probably a big player and may have something to do with the action lately and they may be still pressing the stock along with HGG weak results. On the other side of that is school is coming along with the holidays. Usually retail stocks pick up after labor day but BBY still has to report before then.
As long as they are profitable how can they be toast especially there are only a few competitors (CONN & HGG) left? Best Buy is the only one with locations across the country. When Radio Shack goes the shares will get a boost and that is within a year of happening. If and when they sell Asia shares will get a boost They have learned to compete with Amazon, especially with their on-line growth, who now has to pay tax and has lost some momentum. I don't think $44 is coming anytime soon but I could see the $35 area hit by year end. This earning's release in weeks will be interesting to see if they do well and shares advance and if they do just OK and shares advance with investors looking forward toward the holiday season. Best Buy is not what it once was but they are not going anywhere soon.