Is It Safe? Best Buy's Rally Could Be Over
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TSC Ratings provides exclusive stock, ETF and mutual fund ratings and commentary based on award-winning, proprietary tools. Its "safety first" approach to investing aims to reduce risk while seeking solid outperformance on a total return basis.
Best Buy(BBY Quote) shares have more than doubled since hitting a 52-week low in November, but new data suggests the stock's explosive gains will be short-lived.
The Commerce Department said retail sales fell 1.1% in March from February, when they rose 0.3%. Sales at electronics stores declined 5.9%, more than any other industry. Rising unemployment has hurt spending, a trend that could continue until the recession lifts.
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