Home Depot is Down 19% From Its High. Time to Buy?
Like many growth stocks, Home Depot (NYSE: HD) set its all-time high in late 2021. That time period was marked by soaring optimism as the pandemic threat faded and consumer spending surged. Wall Street projected that the good times would never end, especially as cash poured into the housing and home improvement industries.
That optimism shifted over the following year. Home Depot stock has declined 23% since early 2022, compared to an 18% drop in the S&P 500. There are worries about a recession on the way and a potentially prolonged period of weak housing demand ahead.
With that backdrop in mind, let's look at whether Home Depot represents an attractive buy at today's discounted price.
Source Fool.com
