NEW YORK (TheStreet) -- It really makes you wonder what went wrong when you see a company down 30% in a single trading session, TheStreet's Jim Cramer said of Best Buy (BBY).

The co-portfolio manager of the Action Alerts PLUS portfolio said most analysts had been bullish on the stock, all the way into the upper $30s.

Those expectations were way off, Cramer said. The company reported sales fell 0.8% for the nine weeks ended Jan. 4, while analysts had expected growth and no real degradation in gross margins. 

However, online sales were higher in the holiday period by 23.5%, creating chatter that Best Buy will try and become more like Amazon (AMZN). 

Cramer advised investors who want to buy the stock to wait until Friday because these types of violent moves tend to pan out over a two-day period.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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