Jim Cramer on Home Depot’s Management: “Trust Them, I Do.”

The Home Depot, Inc. (NYSE:HD) is one of the stocks Jim Cramer discussed after the Fed rate cut. Cramer said that the “despot works here,” as he commented:

“Lower rates spur home building and home buying, and they spur home improvement, which can be financed by a home equity loan… Predictably, Home Depot was really on the move again, even as I’m sure nothing extraordinary is going to happen there with a quarter-point cut. Still, we own it for the Charitable Trust… But long story short, I think the despot works here. Even if ICE, the immigration police, keep prowling their parking lots looking for people to deport. And that has hurt the stock. I know Home Depot’s been doing poorly. Okay, I totally get that. What matters is [that] management just told us that they’d do better if rates came down, and then rates came down. Don’t outthink it. Trust them. I do.”

Photo by jason briscoe on Unsplash

The Home Depot, Inc. (NYSE:HD) is a home improvement retailer that sells tools, building materials, and decor. It also provides installation and equipment rental services.

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Disclosure: None. This article is originally published at Insider Monkey.