Why Best Buy Stock Just Crashed

Why Best Buy Stock Just Crashed

Shares of electronics superstore chain Best Buy (NYSE: BBY) sure don't seem to be living up to their name today, at least not as of 3:20 p.m. EST, when they were down 8.8%. Why are Best Buy shares down? In an early-morning earnings report today, the retailer confirmed that it had beaten analyst estimates for its fiscal fourth-quarter 2021 profits, earning $3.48 per share on a pro forma basis when only $3.45 was expected.