Home Depot‘s (NYSE:HD) stock is enjoying a long run of stellar performance, moving higher by about 790% over the previous 10 years alone. However, the stock’s sell-off in February and March as the coronavirus pandemic overtook the country handed the stock its largest decline since the financial crisis.
While shareholders who were able to hold on have recovered their losses and then some, they may be wondering where Home Depot will go next. With no end in sight to the contagion, investors have to decide whether the stock still offers value under current conditions.
Home Depot and COVID-19
Despite the pandemic, Home Depot has held up fairly well. In the first quarter, net sales increased by 7.1% — and these numbers cover the period between Feb. 3 and May 3. This means that COVID-19 affected approximately half of the quarter. Investors have noticed, sending the