Home Depot Inc. (HD) has been making some big moves lately, and according to CNBC’s Jim Cramer, it’s been on a “buying spree.” The home improvement retailer has been acquiring companies left and right, and it’s not showing any signs of slowing down.
One of Home Depot’s recent acquisitions was HD Supply, a distributor of industrial products, for a whopping $8 billion. This move not only expands Home Depot’s reach into the commercial market, but it also allows them to compete with other industrial suppliers like Grainger and MSC Industrial. Cramer believes this acquisition is a smart move for Home Depot and shows their commitment to growth and innovation.
But that’s not the only company Home Depot has been eyeing. They also recently acquired Company Store, a home goods retailer, and signed a deal to acquire HD Supply Waterworks, a water infrastructure company. These acquisitions show Home Depot’s strategy of diversifying their business and expanding into new markets. And with their strong financials and successful track record, it’s no surprise that Cramer is bullish on Home Depot’s future.
So what does this mean for retail investors? Well, Home Depot’s stock price has been on the rise since these acquisitions were announced, and it’s currently trading at an all-time high. This could be a sign of confidence from investors in Home Depot’s growth potential. And with their expansion into new markets, the company has the potential to increase their revenue and drive even more growth.
In conclusion, Home Depot Inc. (HD) is making strategic moves to expand their business and drive growth. With their recent acquisitions and strong financials, the company is poised for success in the future. Retail investors may want to keep an eye on Home Depot’s stock as it continues on its “buying spree” and potentially offers profitable opportunities.