Best Buy Recovers From Morning Beatdown

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Best Buy
BBY
shares are trading lower by $1 at $30.33 in Thursday's session. The Street pounded the issue following its Q3 report that was better than expected for EPS by $0.06 but with a slight miss on sales. After a lower open, it appeared the issue was heading towards its Flash Crash low ($28.32), but buyers stepped in ahead of that level at $28.65 instigated a rebound. The ensuing rally has taken the issue into the $30 handle, reaching $30.49, but it has not been able to reach the lower end of Wednesday's range at $30.82.
Posted In: TechnicalsIntraday UpdateMoversTrading IdeasPremarket outlook
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