HD - 1 Growth Stock Down 22% to Buy Right Now
2024-05-29 11:41:00 ET
Home Depot (NYSE: HD) needs little introduction. The nation's No. 1 home improvement retailer is one of the most valuable retailers in the world, with a market cap of $322 billion.
It's also one of the best-performing stocks in history. The company went public in 1981, when it was still a young company, and since then, its share price has increased by nearly 1,600,000%. In other words, it's turned $1,000 into close to $16 million, and that doesn't include dividends reinvested.
However, more recently, Home Depot has struggled. The home improvement retailer has felt the impact of a sluggish housing market and weaker demand for home improvement projects because of inflation and high interest rates. In 2022, the stock fell back from its pandemic peak and has yet to recoup those gains. As a result, the stock is down 22% from its all-time high at the end of 2021.
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1 Growth Stock Down 22% to Buy Right Now