Best Buy shares tumble on weak holiday sales

Best Buy Co Inc (BBY.N) shares fell nearly 29 percent on Thursday after the world’s largest consumer electronics chain reported a drop in holiday sales despite offering deep discounts.

The retailer also forecast a bigger-than-expected decline in operating margins for the quarter covering the biggest selling season of the year.

The company cited intense discounting by rivals, tight supplies of phones and high-end tablets, and weak traffic in December for the disappointing report. This was the latest evidence that holiday sales at many chains came at the expense of profit.

via Best Buy shares tumble on weak holiday sales | Reuters.

Aaaaand… JACKPOT! Am vandut PUT-urile 35 de martie, pe care le luasem cu $2.15 joia trecuta, cu $8.45, pentru +293% profit. Thank you fratiware!

Acum cred ca va fi interesant de jucat pe strategia Ovidiu – o actiune care a cazut prea tare se mai redreseaza intrucatva, macar pana la un prag Fibonacci. Plus ca price spikes pe harta vor sa fie retraced. Dar stau cuminte, am castigat destul intr-o saptamana din BBY :)

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