(CNBC) Shares of Home Depot and Lowe’s were slammed Thursday, along with Whirlpool, after Amazon threatened to take on the appliance market in a much bigger way in a deal with Sears Holdings.
The market cap loss in Home Depot, Lowe’s, Whirlpool and Best Buy was about
$13 billion at midday. Amazon stock was up slightly, and Sears was up about 13 percent.
But the early read from some analysts was that the sell-off has created a buying opportunity for home improvement retailers Home Depot and Lowe’s, which have proven themselves to be somewhat “Amazon-proof” and among the best performers in the sector. Best Buy, already battling Amazon in electronics, was also sharply lower.
