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If Best Buy Stays Public, Stock Could Become a Strong Buy

I'm shocked more people did not make the connection.

In any event, Durchslag reads like a solid hire. He comes from Expedia (EXPE - Get Report) where he was president. Prior to that, he was the COO at Skype. He has Web 2.0 written all over him. That's precisely what Best Buy needs -- young tech guys like Gillett and Durchslag, not retail lifers.

It's key to note that Gillett likely has Schulze's support. The former chairman played a major role in hiring him. That, however, doesn't mean a thing to investors because Schulze will likely only become a player again if Best Buy goes private.

I hope the company stays public and continues on its current track, minus the overhang of the persistent short-term noise. If that happens, it might be time to accumulate shares on a reactionary dip on news of no buyout.

At the time of publication the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Rocco Pendola is a private investor with nearly 20 years experience in various forms of media, ranging from radio to print. His work has appeared in academic journals as well as dozens of online and offline publications. He uses his broad experience to help inform his coverage of the stock market, primarily in the technology, Internet and new media spaces. He has taken a long-term approach to investing, focusing on dividend-paying stocks, since he opened his first account as a teenager. Pendola, 37, is based in Santa Monica, Calif., where he lives with his wife and child.
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