Best Buy stock is rallying after the U.S. and China agreed to suspend most tariffs
While most of Wall Street is cheering today’s tariff rollback, one stock is rallying especially hard: Best Buy Co Inc (NYSE:BBY). The electronics retailer is up 7.6% at $74.09 at last glance, making it one of the top-performing names on the board. The gains come after the U.S. and China agreed to suspend most tariffs -- a move providing immediate relief for retailers heavily exposed to Chinese imports.
Call traders are betting on even more upside. So far today, over 12,000 bullish bets have crossed the tape, which is 7 times the average intraday volume. New positions are being opened at the most popular contract -- the May 75 call.
Today’s surge pushed BBY back above its year-over-year breakeven level, though the stock remains down 13.4% in 2025. On the charts, the equity is gapping back above the $72 level -- an area that briefly acted as support in March, before President Donald Trump’s April 2 tariff rollout sent the shares tumbling to their lowest level since early 2020.