After methodically grinding out a 5% share price increase since being added to our portfolio on January 5, Best Buy gave all of that back on March 1 after releasing a mixed quarterly earnings report. However, the very next day it gained all of that back, recovering our gain in this position after two days of unusual trading.

It appears investors were torn between the fact that BBY once again delivered a beat on its bottom line earnings estimate, while same store sales dropped 0.7% during the quarter. To further muddy the waters, management provided forward guidance suggesting that same store sales might decrease even more during the current quarter.

We still have another month to go in our target holding period for BBY. I don’t expect it to come roaring back over the next four weeks unless Trump drops his import tariff rhetoric, but the $3 billion share repurchase plan it announced over the next two years and 21% increase to its dividend payment should provide a healthy dose of downside protection.