Best Buy Inc (BBY) shares closed at $102.81 on Wednesday, marking a significant drop that placed the stock in “oversold” territory, as indicated by a Relative Strength Index (RSI) reading of 28.1. This is below the threshold of 30 that designates oversold conditions and contrasts with the average RSI of 39.0 for dividend stocks tracked by Dividend Channel.
Currently, Best Buy offers an annualized dividend of $2.80 per share, resulting in a yield of 2.62% based on a recent share price of $106.86. The stock’s recent price decline could present an opportunity for dividend investors to secure a higher yield. Investors are encouraged to consider the company’s dividend history as part of their evaluation.
