Some BBY Advice: Take the Money and Run!

Some BBY Advice: Take the Money and Run!
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Anyone working at Best Buy (NYSE:BBY) this morning — and more importantly, anyone who has held on through the stock’s 20% downturn through last weekend — should start dancing in the proverbial aisles. Best Buy founder Richard Schulze made a bid to buy up the floundering company’s shares for about $ 8.8 billion (between $ 24 to $ 26 per share) and take the company private.

Shares of BBY already soared 20% Monday morning to above $ 21 per share before falling back to 11% gains as of this writing.

Anybody want some free advice? If you haven’t already, take the money and run!

The proposed deal has been in the wind for some time now; at least one person (me) suggested the idea had both merit and possibility, and might be the only way to save the company. Hurrah if it does, oh well if it doesn’t, but either way, if Best Buy is going private, th…………… continues on

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