Best Buy Rises 4% (BBY)

Shares of battered Best Buy BBY have been rising the last couple of trading sessions, and the stock has surged around 4% on Wednesday. More than 7 million BBY shares have traded hands compared to a 3-month daily average of 7.8 million. The stock has been absolutely hammered over the last year, falling more than 32% as the company is facing significant operational problems and its competitors appear to be getting the upper hand. The stock is inexpensive on a valuation basis as a result of the concerns. BBY shares trade at a trailing P/E of 9.66, a forward P/E of 8.06 and a PEG ratio of 0.79.