Home Depot A Possible Victim Of Security Breach

Shares of Home Depot (NYSE: HD) spiked lower Tuesday following a Krebs On Security report that the retailer may have been a victim of a massive security breach.

A large batch of stolen credit and debit cards appeared for sale on Tuesday morning in the “cybercrime underground.” Multiple banks are seeing evidence that the origination of these stolen cards may have come from Home Depot stores.

Paula Drake, a spokesperson for Home Depot confirmed the company is investigating.

“I can confirm we are looking into some unusual activity and we are working with our banking partners and law enforcement to investigate,” Drake was quoted on Krebs On Security. “Protecting our customers' information is something we take extremely seriously, and we are aggressively gathering facts at this point while working to protect customers. If we confirm that a breach has a occurred, we will make sure customers are notified immediately. Right now, for security reasons, it would be inappropriate for us to speculate further – but we will provide further information as soon as possible.”

Shares were last trading at $90.63, down 2.6 percent.