Best Buy.com Shuts Down for 'Protective Measures,' Returns Quicker Than Expected

Many consumers looking to shop from the comforts of their own home were dealt a significant setback on Friday. In a statement issued just after 11:00 AM, Best Buy BBY announced that its online site BestBuy.com suffered an outage due to a “concentrated spike in mobile traffic.” The company shut down the site to take “proactive measures to restore full performance.” The statement added that BestBuy.com was expected to return online “in the next several hours." Shares of Best Buy turned negative following the outage after trading higher by more than 2.7 percent earlier. Just a few minutes after the "several hours" comment, BestBuy.com returned back online shortly before noon, sooner than the company projected. Best Buy shares are continuing to move higher following touching an intraday low at $38.47. The stock is now up about 1.7 percent to $39.42.