This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

'Fast Money' Recap: Selling Best Buy

Stock quotes in this article: BBY, SHLD, JCP, INTC, MRVL, SCTY, HSY, C, RIO, UNH, HLF, NUS, KR, UNP, KSU, GBX, TRN, TMUS, UA, UNG, APA, TUR, TLT, BHP, RSG

NEW YORK (TheStreet) -- The S&P 500 ended slightly lower on Thursday, making its year-to-date performance essentially flat so far in 2014.

On CNBC's "Fast Money" TV show, the trading panel discussed Best Buy (BBY), which plunged nearly 30% in Thursday's session. 

Tim Seymour, managing partner of Triogem Asset Management, said the stock was set up for a big move lower after tripling in 2013. However, he admitted the move lower was an overreaction. 

Brian Kelly, founder of Brian Kelly Capital, said it's a massive overreaction and he would buy the stock as a trade. He added that shrinking the number of stores will likely help the retailer. 

Guy Adami, managing director of stockmonster.com, said the stock traded 85 million times compared to its average of 5 million times and could be purchased near current levels. 

Karen Finerman, president of Metropolitan Capital Advisors, said she is not a buyer but BBY has a pretty good balance sheet. 

David Strasser, retail analyst at Janney Montgomery Scott, was a guest on the show. He said a tough consumer hurt BBY as seen by the decreasing gross margins. Promotions hurt most of the retail companies this holiday season, he added. He concluded that next year could be better, especially as Best Buy continues to benefit from increased appliance sales and an ailing Sears Holdings (SHLD)

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,042.90 -28.32 -0.17%
S&P 500 1,972.29 -5.51 -0.28%
NASDAQ 4,493.39 -12.4620 -0.28%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs