Is this a great time to buy Best Buy stocks?

Best Buy is entering a strong time of year. Over the last 09 years, the stock has risen 8 times between April 14 and May 01. The largest return was +12.90% in 2013. The largest loss was -6.93% in 2015. The average return has been +3.08% over the last 09 years and the annualised return has been an impressive +97.48%. Time to buy ahead of earnings season as tech stocks have seen strong gains during COVID-19 lockdowns?

Best Buy Co. Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. It was originally founded by Richard M. Schulze and James Wheeler in 1966 as an audio speciality store called Sound of Music.

Trade Risks:

  • There is a growing risk that investors consider equity markets overbought and that could see a correction. It is hard to know when that correction will come, but investors need to be aware of the potential risk.
  • There is an upside risk that another break out of COVID-19 could speed up further growth from tech stocks.