Best Buy Stock Must Clear This Level for the Rally to Continue

Best Buy (BBY) The stock will try to rise on Tuesday after the electronics retailer reported gains before the opening.

At one point, stocks were up 7.6% on the day, but like the general market, Best Buy is fading from its session highs.

However, unlike the S&P 500, which has now turned negative today, Best Buy stock is still up more than 3%.

As reported, “back-to-school sales exceeded expectations,” while the retailer posted top and bottom-line profits.

Not everything was perfect. Earnings fell nearly 50% year over year, while sales fell 13%. The company also withdrew its 2025 budget forecast due to macro uncertainty.

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