Despite strong earnings, stock drops
Brena Swanson | Housingwire
Even though it posted record results in its second-quarter earnings, Home Depot’s stock is still tanking on the market, according to a CNBC article by Bob Pisani.
The main culprit behind the drop is the same company that’s threatening most markets: Amazon.
Going into the earnings day, economists were positive on the home improvement store’s immunity to Amazon and that it has “clear advantages with the Do-It-Yourself and professional contracting crowd that is the core of its buyers,” the article noted.
