Best Buy The Worst Buy

Best Buy Co., Inc. BBY shares have given up most of their gains 90 minutes into trading, after the company reported better than expected earnings this morning. Best Buy was discussed earlier this morning as to whether it would be an appropriate position for your portfolio, and the conclusion was that traders and investors should have taken the pop in pre-market trading and moved on to a different name. Shares ran as high as $31.32 earlier in the session, after opening at $31.11, but have since fallen below the $30 mark. It looks as if the assessment was right, at least in the short term. So far, over 12 million shares have been traded today.