Declining Coronavirus Restrictions Could be a Headwind for Home Depot in 2021
As the COVID-19 pandemic began to sweep through the United States early last year, state governments imposed restrictions regarding which businesses could remain open. The goal was to reduce the spread of the virus, but keep essential services open. Home Depot (NYSE: HD) was one of the retailers allowed to continue operations. That proved to be a major tailwind for the home improvement store as it could remain in business at a time when consumers had limited options to spend money.
Fast forward to the present. With over 150 million doses of the vaccine already administered across the country, many of the restrictions on businesses are being removed. This could potentially be a headwind for Home Depot in 2021. Let's see why.
Image source: Home Depot.
Source Fool.com
