3x earnings it is silly but there must be other things at work here possibly shaking out weak hands until the price becomes stupid or it may be speculation of a dividend cut but the drop already is beyond that unless they cut it to say .25.
You short an intra-day high or the close and it opens up lower 4 out of 5 days. It has worked for weeks now.
They were sleeping the past few quarters not paying attention to their business particularly the pharmacy portion. What the market is doing to their shares should certainly serve as a wake up call. Their other option is to hire Cramer as their pitch man. If he liked the shares at a decade high he must love them under $5....no?
Friday's action with the share price. Market closed near the highs and BBY at the low. I know oil has moved up the past few days but not enough to matter. This market is strange it can be down 100 on Monday and BBY can be up .50 a lot of what goes on in this market is also non-human.
Doubt the industry was this bad, the tech bubble bursting along with the economy, and they probably did not have the EPS they have today. Normally they don't work (but YRCW is a recent example of a near collapse that survives) but they may need a reverse split to hang around longer with the GOP winning the next two elections.
Agree but the selling was getting silly since they were selling it last night already then more in the pre-market each day too. We do have to see how it closes if it nears $28 that would be a pretty good sign. I would guess there are many news shorts the past week or two so covering may add some fuel.