Why Best Buy Shares Popped 20.1% Today

Shares of electronics retailer Best Buy (NYSE: BBY) jumped as much as 20.1% today after management said demand for products has been strong amid the COVID-19 pandemic. At 2:15 p.m. EDT on Tuesday, shares were still up 13.5% on the day, outpacing the S&P 500's 6.2% gain.

CEO Corie Barry said the company was seeing higher demand for electronics as more people across the country began to work from home. There's also strong demand for appliances like refrigerators and freezers as people stockpile more consumer staples like food.

Image source: Getty Images.

Source Fool.com