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Do Traders Think Best Buy Co Inc (BBY) Can Turn Around Wednesday?

Wednesday, May 18, 2022 11:08 AM | InvestorsObserver Analysts

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Do Traders Think Best Buy Co Inc (BBY) Can Turn Around Wednesday?

Best Buy Co Inc (BBY) stock has fallen 7.38% over the past week and gets a Bearish rating from InvestorsObserver Sentiment Indicator.

Sentiment Score - ,bearish
Best Buy Co Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on BBY!

What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With BBY Stock Today?

Best Buy Co Inc (BBY) stock is trading at $77.61 as of 11:06 AM on Wednesday, May 18, a loss of -$6.90, or -8.16% from the previous closing price of $84.51. The stock has traded between $74.83 and $79.57 so far today. Volume today is more active than usual. So far 3,718,987 shares have traded compared to average volume of 2,398,181 shares. To screen for more stocks like Best Buy Co Inc click here.

More About Best Buy Co Inc

With $51.8 billion in fiscal 2022 sales, Best Buy is the largest pure-play consumer electronics retailer in the U.S., with roughly 10.6% share of the aggregate market and north of 40% share of offline sales, per our calculations, CTA industry, and Euromonitor data. The firm generates the bulk of its sales in-store, with mobile phones and tablets, computers, and appliances representing its three largest categories. Recent investments in e-commerce fulfillment, accelerated by the COVID-19 pandemic, have seen the U.S. e-commerce channel roughly double from prepandemic levels, with management estimating that it will represent a mid-30% proportion of sales moving forward. Click Here to get the full Stock Report for Best Buy Co Inc stock.

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