Is it Best Not to Buy Best Buy Now?
January 18 2022 - 09:59AM
TipRanks
Shares of Best Buy (NYSE: BBY) closed 2.5% lower on Friday, January
14, and slid a further 1.24% in the pre-market hours today.
Moreover, with an 8.06% decline, the share price performance over
the past year is not so encouraging either. The prices seemed to be
doing well for a brief period last year and peaked on November 22.
However, despite better-than-expected 3QF22 results that were
released on November 23, the prices fell sharply and have been on a
downward trajectory ever since. Ongoing supply-chain issues and a
lackluster 4QF22 projection seemed to have driven investors out of
the BBY stock.
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Best Buy (NYSE:BBY)
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