Best Buy took a big hit, $1B, through its technology service known as Geek Squad when Amazon announced they were launching a competitor.
Call this the Amazon Effect. When Amazon comes in they blow the doors off the hinges.
Read on:
https://www.recode.net/2017/7/10/15947690/best-buy-stock-drop-amazon-geek-squad-competitor
Happy Reading,
J.W. Gant
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