This is a story about trust. About why many Americans have tuned out and lost hope in financial “experts.” It's about the insights, foresights, reckless predictions and lack of conviction from media outlets, Wall Street analysts and talking heads that monopolize today’s market dialogue.
Best Buy's shares fell by around $11.00 or nearly 30% premarket in response to the communication from the company. So this situation falls perfectly into the “what are the chances of that happening?” category.
The first spending decline on a Black Friday weekend since 2009 reinforced projections for a lackluster holiday, increasing chances retailers will extend the deep discounts already hurting their profit margins.