Best Buy Stock Slips on Slashed Sales Outlook

Group 1 - Best Buy Co Inc reported a revenue miss for the first quarter and has slashed its full-year sales outlook due to rising costs of electronics attributed to tariffs [1] - The company's stock price fell by 6.4%, trading at $66.98 [1] - Analysts are pessimistic about the shares, with potential for price-target cuts; 9 out of 22 firms still maintain a "strong buy" rating, while the 12-month consensus target price is $83.68, representing a 27.1% premium to current levels [2] Group 2 - Best Buy's stock is experiencing a 22.3% year-to-date deficit and has fallen below recent support levels, with the $76 region rejecting several rallies since early March [3] - A support floor at the $64 level is expected to contain current losses [3] - Today's options activity shows significant volume, with 13,000 calls and 12,000 puts traded, which is 10 times the typical volume; the most popular option is the August 67.50 call [3] Group 3 - The Schaeffer's Volatility Scorecard for Best Buy is at 78 out of 100, indicating that the stock has exceeded option traders' volatility expectations over the past 12 months [4]