There used to be a ton of choices out there, of which Best Buy was only one. Now Best Buy is the only one, and there are times, believe it or not, when you actually need to buy something from the store. Not everything is Amazon-able.
There was vast confusion involving this stock, because it became binary: It was either going to get a bid to go private or it was going to go to zero. This last set of numbers, however, has shown that there's a third path: a muddle-through strategy of a smaller, more lean and less profligate company that isn't all things to all people all over the country but just a solid operator that can make money. Maybe not a lot of money. But it can be profitable, and if it can be profitable, it isn't done going up.
Finally, there is Research In Motion. This stock was loved in the $50s, $40s, $30s, $20s, even the teens, before it got a slew of downgrades when it was clear that it was losing share and didn't have an answer for its woes.
But late last year, this company got religion and starting firing people and closing plants while at the same time revealing that it simply hadn't lost nearly as many subscribers as people thought.The moves surprised people, and the stock started moving higher into the quarter, and sure enough, the quarter was a good one. However, management immediately discouraged people from raising numbers off this last quarter, and the stock, which had doubled from $7 to $14 plummeted back to $11. Since then, nothing really important has happened other than the planned launch of a new phone and the possibility, announced this week, that the company will get out of the hardware business. It would presumably then be a subscription and intellectual property business that would contract out its phones. These positives have the stock screaming back to the $17 level. I don't think that's all that shocking, given that it still has so many millions of subscribers, a keyboard that people love and a good balance sheet.