Why Home Depot Stock Is Still Dropping
Home Depot (NYSE: HD) investors can't seem to catch a break. After losing more than 3% in Tuesday trading, shares of the home improvement superstore chain are down another 4.7% as of 11:55 a.m. EST Wednesday. It's the fourth day in a row the stock is down.
Why are Home Depot shares sinking? Didn't fiscal fourth-quarter sales (reported yesterday) surge 25% year over year, with a 24% gain in same-store sales, beating analyst estimates for both sales and earnings? Didn't the company also raise its dividend by 10%?
Well, yes it did -- but that's not the problem. What's worrying investors this week isn't what Home Depot said about 2020, with which management said it was "pleased," but what it said about 2021, which was... not much.
Source Fool.com
