Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of electronics and appliance retailer hhgregg
So what: It was a pretty miserable day for Best Buy as the company's stock was hammered after announcing disappointing third-quarter results. The retailer said that it was hurt in particular by TV sales as discounters like Wal-Mart
Now what: As long as shoppers are watching their wallets and are willing to sacrifice brand name -- and potentially quality -- in favor of price, hhgregg and Best Buy could both face a tough slog. Currently, both companies are continuing to push TVs from manufacturers like Sony
After today's drop, shares don't look particularly expensive, though they don't look particularly cheap either. The business is an interesting up-and-comer, so investors may want to keep an eye on it in case the share price gets more attractive.