Is Best Buy Co Inc (BBY) a Stock to Watch After Losing -5.17% This Week?

Overall market sentiment has been down on Best Buy Co Inc (BBY) stock lately. BBY receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

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!

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What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Sentiment is how investors, or the market, feels about a stock. There are lots of ways to measure sentiment. At the core, sentiment is pretty easy to understand. If a stock is going up, investors must be bullish, while if it is going down, sentiment is bearish. InvestorsObserver’s Sentiment Indicator looks at price trends over the past week and also considers changes in volume. Increasing volume can mean a trend is getting stronger, while decreasing volume can mean a trend is nearing a conclusion. For stocks that have options, our system also considers the balance between calls, which are often bets that the price will go up, and puts, which are frequently bets that the price will fall.

What's Happening With BBY Stock Today?

Best Buy Co Inc (BBY) stock is trading at $97.44 as of 1:48 PM on Tuesday, Jan 18, a decline of -$2.58, or -2.58% from the previous closing price of $100.03. The stock has traded between $96.34 and $98.81 so far today. Volume today is light. So far 2,093,908 shares have traded compared to average volume of 3,247,916 shares.

More About Best Buy Co Inc

With $47 billion in 2020 sales, Best Buy is the largest pure-play consumer electronics retailer in the U.S., with roughly 10% share of the aggregate market and nearly 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.