Why Did Best Buy Stock Drop Today?
Best Buy had nothing but good news today, and investors are wrong to sell Best Buy stock.
Overview
Best Buy (NYSE: BBY) tumbled 4.3% through 11:50 a.m. ET this morning despite beating on sales, beating on earnings, and issuing raised guidance, too! Expected to earn only $1.35 per share (pro forma) on sales of $9.5 billion, Best Buy delivered $1.47 in profit and sales of $9.8 billion.
So... what's up with that? Why is Best Buy stock down when all it gave investors today was good news?
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.