Port places Best Buy on his conviction dump list

Discussion in 'Stocks' started by Port1385, Apr 14, 2009.

  1. Retail sales getting hammered, Best Buy up the last month for no good reason except talking by politicians and other hooligans. Time to place this on the conviction dump list.
  2. BestBuy's price's are also ridiculously high compared to online retailers. I remember looking at a SD card that was 3x more expensive than the equivalent at Amazon. They need to charge a higher markup to compensate for the stores, employees, etc.. but customers are eventually going to wise up and buy online.
  3. +1

    Went looking for monitors, what a joke at Best Buy. In some cases 40% higher than online retailers.

    Best Buy is great if you want to pick up the newest DVD release - that's about all. And even that stuff can be downloaded now.
  4. so howcome Best Buy's stock still doing well and no bankruptcy on the horizon?

    Are people shopping there really stupid or what?
  5. Because when the economy is healthy their customer base rather not buy electronics from a discount retailer like Wal Mart and Target and there is no replacement for putting your hands on a high dollar item before you buy it. Circuit City going under didn't hurt, either.

    With the economy gasping for life, that will probably change and the sell recommendation released today reflect that opinion. The stock will probably fill the Mar 26 gap in the next few weeks, even if the general market doesn't drop. If the market has a correction BBY will probably drop to the low 20's. Yes, I'm short until something changes my mind.
  6. I just bought a home office printer from Best Buy. I got a better deal from them than I would have online. It is a HP 6480. I shopped online and found the cheapest price at Amazon for $129 not including shipping. Best Buy had it on sale for $179. But Best Buy matched that $129 online price for me. Generally they only match prices in the local area at other local stores but I talked to the right sales kid and he did it. So it was actually cheaper than online because of shipping costs and I had the printer that day instead of having to wait days for it to arrive.
    Also I can not get the printer to work wirelessly and have been through hell with shit foreign tech support and spent hours on the phone to get the crap Hewlett Packard printer to work wirelessly.
    I am going to use it for my 30 day return period and then take it back for another one.
    IF I bought this printer online I would have the massive hassle of having to ship it back and lose money on the shipping costs I would have to pay. What does a printer weigh and cost to ship back? Probably quite a bit. Then I would have to hope I get my money refunded to me for some fly by night online discounter.
    Best Buy was the better way to go for me.
    I always try to buy local if I can.

    I also just bought a drysuit for kayak flyfishing. The local Scheels matched the online price of $500. They also have LIFETIME WARRANTY on ANYTHING you buy there. So I got the same price as online plus the Lifetime Warranty and a close by place if anything goes wrong if I need to return it.
    So online shopping isn't always better although I do purchase quite a bit online....recently some float bags for my kayak and a new PFD but it depends on the item. If there is any chance of a return happening than online is not the way to go.
  7. Interesting. I wonder how often that "will you match the online price" works out. I'll have to try it.
  8. It took BRCM about 2.5 years to reach its bottom in the single digits where it rightfully belonged. Right now BBY is holding up on hype and hope that the economy is finally turning.

    Who is going out and buying new appliances and televisions in this environment? Hope and hype only hold up so long...

  9. Price matching doesn't work with Worst Buy.

    Last time I tried to get them to price match a Garmin Nuvi they threw a fit and offered me a price in the middle of their price and the Wallymart price. I declined and walked out...
  10. funny how his downgrade came out at the same time pali research downgraded it to sell lol
    #10     Apr 14, 2009