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Best Buy Sell-Off Makes Loop Capital Even More Bullish

Donna Fuscaldo

Best Buy Co. Inc.’s ( BBY) stock has been under pressure in recent days despite posting first-quarter results that surpassed Wall Street earnings as worries about decelerating growth in e-commerce sales weighing on investors. The Wall Street firm’s Anthony Chukumba is urging investors to build their position in the stock in the wake of the weakness. The analyst told The Wall Street Journal that the decline in online sales was “much ado about nothing,” and that he is now more bullish on the stock since the earnings report.