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Is it Time to Dump Best Buy Co Inc (BBY) Stock After it Has Gained 1.89% in a Week?

Thursday, August 12, 2021 10:57 AM | InvestorsObserver Analysts
Is it Time to Dump Best Buy Co Inc (BBY) Stock After it Has Gained 1.89% in a Week?

The market has been high on Best Buy Co Inc (BBY) stock recently. BBY gets a Bullish score from InvestorsObserver Stock Sentiment Indicator.

Sentiment Score - ,bullish
Best Buy Co Inc has a Bullish 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. 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 $117.55 as of 10:41 AM on Thursday, Aug 12, a drop of -$0.44, or -0.38% from the previous closing price of $118.00. The stock has traded between $117.29 and $119.30 so far today. Volume today is light. So far 208,882 shares have traded compared to average volume of 1,794,101 shares. To see InvestorsObserver's Sentiment Score for Best Buy Co Inc click here.

More About Best Buy Co Inc

Best Buy is one of the largest consumer electronics retailers in the U.S., with product and service sales representing more than 9% of the $450 billion-plus in personal consumer electronics and appliances expenditures in 2019 (based on estimates from the U.S. Bureau of Economic Analysis). The company is focused on accelerating online sales growth, improving its multichannel customer experience, developing new in-store and in-home service offerings, optimizing its U.S., Canada, and Mexico retail store square footage, lowering cost of goods sold expenses through supply-chain efficiencies, and reducing selling, general, and administrative costs. Click Here to get the full Stock Report for Best Buy Co Inc stock.

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