For those who are looking into the BBY stock, market watchers say that the long term prospects look good at the moment. The BBY stock has always been associated with quality and is bound to give good results in the long run. According to the market data that is available, the BBY stock has hit the lowest mark in the previous couple of years and it is expected that it would grow in the time to come. Further, the support and resistance levels of the BBY stock look good at the moment and the company efforts are in the favor of resurrecting the value of the BBY stock. For the uninformed, here is some information regarding the BBY stock and the company operations behind it.
BBY Stock History
For a complete history behind the BBY stock, you need to know the basics about Best Buy. The BBY stock first came into being in 1969, when the company went public for the first time. At that time, Best Buy was known as Sound of Music and was mainly a specialty music store. You would find that the BBY stock history is quite interesting and the investors have never been disappointed with their BBY stock. What started with a simple music business has become one of the biggest consumer electronics chain as of date and has been providing special services to its customers always. In the recent times, the BBY stock has faced some stiff competition and has went through period of losses too. This is the reason behind the abysmal performance of the BBY stock in the last few years. However, things are supposed to change in the remaining financial year as Best Buy is making regular efforts to appeal to its customers. The new products, services and launches are bringing out more action on the front and the BBY stock is sure to benefit from this.
BBY Stock Price
The current BBY stock price is moving in the range of $26-27 at the moment and if you are thinking about investing in the stock market, the BBY stock would turn out to be a good option. Further, you would find that the BBY stock would prove to be a good investment vehicle as there are several new initiatives coming from Best Buy which would surely push the BBY stock upwards.