Shares of Best Buy (NYSE:BBY) took a hard fall today after the company announced some disappointment in its holiday sales numbers. While many investors have long looked at Best Buy as a business in trouble in light of the changing retail landscape calling the company's business model into question, the stock more than doubled in 2013.

In this video, however, Motley Fool analyst Morgan Housel doesn't necessarily think that last year's rally in this stock was due to its turnaround story as a business alone. He suggests that much of Best Buy's rockstar performance in 2013 could have been due to short-sellers covering their positions in the rising stock and that fundamentally the business is still deeply troubled. He sees this earnings news as confirmation that the company is having an increasingly harder time competing with the business models of Amazon (NASDAQ:AMZN) and Wal-Mart (NYSE:WMT), which can slash their prices to the bone and make up the difference in volume, something Best Buy just isn't able to do.

Even with the stock off more than 25% today, Morgan doesn't see any value play here. He still thinks it looks too pricey after last year's run-up despite cratering today, and considers this much more of a risky speculative play than a long-term investment. Foolish investors should consider staying away from this one.