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On CNBC's "Fast Money Halftime Report," Stephanie Link said she has never owned Best Buy Co., Inc. (NYSE:BBY) and she missed a lot of money along the way, but she thinks the stock is very attractive. She decided to buy it because it's both a stay-at-home stock and a re-opening stock.
Traffic and store closures have been a headwind for the stock, but as we re-open they're going to become a tailwind, said Link. The company has lowered its cost structure and its inventories are leaning.
The supply chain constraints might hurt them a little bit, but investors are going to look through it, expects Link. The vendors don't want just Walmart and Amazon running the show so they do support Best Buy, she said.
Link likes the stock and she sees it as reasonably priced. It gets harder for the company in the second half of the year, but that is already factored into the numbers, said Link.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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