Best Buy Stock Adrift Without Growth Or Value Lifelines — Traders Circle

Monday, January 20, 2014

Best Buy’s shocking 2014 news negated its 2013 growth status. Management’s strategy stumbled, turning hoped-for sales and earnings growth into confirmed declines in both. Last year’s resurrected growth story evaporated and with it, almost two-thirds of 2013’s outstanding rise (from $12 to $44, now down to $24).

Analysts, fund managers and individual investors alike can be forgiven for being shell-shocked. After November’s 10% drop on management’s risk commentary, overall holiday electronics sales seemed to be going well. Even preceding management’s bombshell last week, the stock was creeping up on good trading volume.

So, what now? How should we view Best Buy – the company and the stock?

This article is published on Forbes.com


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