Jim Cramer Links Home Depot Stock's Prospects to Rate Cuts

The Home Depot, Inc. (NYSE:HD) is one of the stocks Jim Cramer talked about. An Investing Club member asked Cramer if it is wise to buy more shares of a winning stock at a higher price after initially buying too few. Here’s what he had to say in response:

“We have to ask ourselves, has something changed? If something has changed and it’s really dramatic, then we will pay up. Jeff and I talked a bunch of times about whether we should pay it for Home Depot or not because we didn’t catch the bottom. We bought some, and then it flew up, and I’m a big believer that we’re gonna get rate cuts, and we said buy some Home Depot. So, I think that the thing that changed was that we knew we were going to get the rate cut from the CPI. So yes, if something changes, you can violate, but it has to change. It can’t just be because you say, ooh, I really like that.”

The Home Depot, Inc. (NYSE:HD) is a home improvement retailer that provides building materials, décor, lawn and garden supplies, and maintenance products. In addition, the company offers installation services, tool rentals, and online platforms serving homeowners, professionals, and contractors.

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