Home Depot Is Down 30% From Its High. Time to Buy?
Even with the S&P 500 in the green so far this year, the market's double-digit drop in 2022 has laid the groundwork for investors to find solid buying opportunities. Great businesses, such as Home Depot (NYSE: HD), are selling at sizable discounts, giving investors a good opportunity. Home Depot's stock is still down some 30% from its $406 all-time high in December 2021.
Does this mean now is the right time to buy this top retail stock? Here's what investors need to know.
Home Depot's operations received a boost during the coronavirus pandemic. Consumers, flush with extra cash, turned to renovation projects. As a result, this home-improvement giant saw double-digit percentage annual revenue increases in fiscal 2020 and 2021.
Source Fool.com
