BBY Best Buy

[AimeeDract]

Hey guys.. i recently bought best buy after they came out with good earnings but got hammered for no reason.. I thought the stock would jus spike back up the next day.. furthermore they are destroying their main competition like CC ( circuit city, which had to lay off experienced employees to cut costs).. The stock a few days later was upgraded by the S&P to a 5 star stock and still no reaction.. I got in at 48.2 and the stock is in the mid 46s now.. I would like to ask what you guys think of the stock and whether u think i should buy more bby stock as the price goes down..
Any advice would be appreciated

[Aicagap]

I'm in the same boat as you. I picked BBY up recently @ 47.85.

My analysis: I think that CC really wowed everyone in their conference call of WHAT NEEDED TO BE DONE to turn that company around. The street really seems to love "synergy" (code word for firing a lot of people, which CC is doing) BBY's call was mostly ho-hum in theirs: we did all this, flat panel tvs up, nothing that excited people. In addition, people feel that the housing slowdown will cause people to buy less big ticket items that BBY carries like TVs, appliances. That explains the chart for BBY.

[Ahmad2317]

I don't know why but Cramer just put it on his don't buy list after pushing the stock for a long time.

[agvamihuuzo]

Bottom line: CC really needs to step up to the plate and show more consistent profitabilty. It's gotten the street's attention. Now it has to deliver. BBY has the market and mostly owns it right now. The reason the CC has been closing many stores is because BBY is so strong.

I believe that CC won't do anything. If they can't turn it around with employees that know their stuff (and get paid better), how can they turn it around with salespeople making minimum wage. When there's a hiccup in CC's implementation plan, watch BBY take off.

[admin]

He did the SAME thing with J&J just this last week, and I've noticed several other times where he did this. This post is NOT Cramer bashing, just an observance and a desire for a little something different on his show.

Personally, I think he needs to have a Monday, Wed and Friday show instead of nightly, he's getting burned out and it seems there are shows where he struggles to find recommendations for the show. Maybe use Tuesday and Thursday for education/ lessons/ interviews and use visual presentations instead of just talking and showing a 2 second chart that goes by so fast you can't even read it LOL. Once again, just my wish list and not bashing