Black Friday’s Improbable Winners

24/7 Wall St.

Some stocks become so badly beaten down that they become improbable bets for rebounds. Right now, in retail, several are so battered that modestly improved results in Black Friday weekend sales could send their shares to substantial gains.

The first among these is Best Buy Co. Inc. (NYSE: BBY). Wall St. rejected the turnaround plan of new CEO Hubert Joly, at least based on the huge sell off in the stock when he disclosed his program. Investors looked at his solutions as vague and naive, particularly in the face of Inc.’s (NASDAQ: AMZN) e-commerce dominance. But Joly may have one plan that could work. Most bricks-and-mortar stores fear what is called “showrooming.” Customers come to stores to examine products, and then buy them online at low prices. Joly’s theory is that showrooming brings in a lot of extra shoppers during holidays, and, with low prices…

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