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Best Buy stock drops to lowest level since 2002

Stocks from Richfield-based Best Buy Co. dropped Friday to $14.96 per share, marking the first time in 10 years that stock dropped below $15. The company's market value currently stands at $5 billion, down from $9 billion a year ago.
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Stocks from Minnesota-based Best Buy Co. dropped Friday to $14.96 per share, marking the first time in 10 years that stock dropped below $15, reported the Star Tribune.

The news comes a day after Best Buy warned that sales would be down in Q3.

The company's market value currently stands at $5 billion, down from $9 billion a year ago.

The news comes as Best Buy's new CEO Hubert Joly prepares to head to Wall Street next week for his first company meeting.

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