I’ve been popping into my local Best Buy a few times over the last couple of months, and the place is basically a ghost town. It got me looking at the stock, and honestly, the chart doesn’t look much better.
It’s sitting at $61, hovering right above its 52-week lows ($55ish). The momentum is clearly heading south, and it’s failing to hold any of the support levels that used to keep it up. It feels like the "value" crowd is holding on for the dividend, but if that $55 floor snaps, I think this thing is going to free-fall.
Is anyone else looking at this as a short, or is everyone waiting for it to bounce back? Feels like a total dumpster fire right now, but I’m curious if I’m the only one seeing it this way.