Best Buy: How To Trade With Crowd Indicator? +10.5% in one trade
Best Buy Co. was expected to reveal its financial results for the second quarter before the open of trading on Tuesday, August 23. Here is the question that had been published a few days before earnings report was released:
Best Buy Co., Inc. (BBY) is set to report second-quarter 2016 results on Tuesday, August 23 before the market opens. Wall Street is expecting earnings per share (EPS) of $0.43. Will Best Buy report EPS above Wall Street Consensus?
According to Cindicator users, the probability for Best Buy to beat analysts’ expectations was 73 percent. Therefore, we had bought 3100 BBY shares at $32.75 before the market close on Monday, August 22.
The stock jumped in pre-market trading after the company reported better results than expected. We sold 2600 shares of Best Buy at $37.80 for $13,130 profit (about 8.7%). We left 500 shares as our analysts assumed that BBY would be trading higher that day. We sold 500 shares at $37.92.
Overall, gross profit was $15,715 (almost 10.5%) in less than 24 hours. That has been our biggest winner so far.
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