Here's Why Best Buy Stock Is Going Back Up

In just under a month, shares of Best Buy (NYSE: BBY) have risen nearly 29% as of this writing. That was a fast rebound from the more than 40% decline shares experienced earlier this year as the reality of the COVID-19 pandemic set in on Wall Street. But even after the partial recovery, shares are down over 25% year to date.

Still, investors understandably want to know why Best Buy stock has been recovering lately, and even more importantly, they want to know whether the company is a good investment going forward.

Best Buy's stock has recovered from lows. Image source: Getty Images.

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Source Fool.com