KBC Group NV, Bessemer Group, Ritholtz Wealth Management and several other stakeholders have reportedly trimmed their holdings in Best Buy Co., Inc. (BBY), resulting in speculation around significant drops in the electronics retailer's stock. There are mixed views on 'Buying the Dip', despite company insiders reportedly selling stock and the negative impact of tariffs. Major stockholders such as Conning Inc. and Sumitomo Mitsui Trust Group Inc., are showing confidence in the troubled company by purchasing shares. Certain experts suggest the company's stock is underperforming, even while mixed quarter results roll in, with some attributing this to the company's trimming of its full-year sales forecast. Despite this, BBY stocks continue to find buyers, with State of Alaska Department of Revenue recently increasing its holdings. However, the company's shares took a hit due to tariff tension with warnings about rising prices. Some analysts still argue that the company's fundamentals remain decent, but others predict further risks despite a potential boon from Nintendo Switch 2 sales. Finally, the company's CEO purchased $1 million of company stock as prices cratered.
Best Buy Company Stocks BBY News Analytics from Thu, 29 Aug 2024 07:00:00 GMT to Sat, 05 Jul 2025 18:41:01 GMT - Rating -5 - Innovation -7 - Information 0 - Rumor -3
