When Home Depot reported outstanding numbers for its most recent quarter earlier this week and said it expected to continue to do well, what did Wall Street do? Of course, they focused on the few sentences of warnings in the HD statement about going up against storm-boosted numbers from a year ago and the general slowdown in the housing market. And the stock took a hit.
I just don’t get it. Clearly Depot is doing really well, continuing to gain market share and continuing to reap the benefits of homeowners staying in their current places and spending more on remodeling.
Here’s my take from Forbes.com: https://www.forbes.com/sites/warrenshoulberg/2018/11/14/how-home-depot-is-still-riding-the-housing-wave/#1642e1482151
To me it’s just another example of Stupid Wall Street business.