Agree, any slight recession and consumers immediately will slow down spending on Starbucks coffee...and I'm sure some have grown tired of it, I remember years ago when they raised prices before inflation kicked in to overdrive, consumers complained, but they still bought their coffee there....
So lots of comments and predictions but no comments on the trade and the chart. Must be Elite Soapbox.
Well I think I see the beginning of a narrow shoulder forming in that chart.... LOL I think the view here is that their time has passed, and I agree. I'm also shocked it has taken this long for them to fade. They won't be getting a foothold in Italy. I was there ten years ago and asked some Italians why there were no Fourbucks in Italy and they told me almost to a person - "because Italians don't wish to lick their own asses to get that horrible burnt taste from their mouths."
I see it too.... The thing is one day after earnings is when the larger players make their move. The knee jerk up is all but neutered now. Will see if the double bottom holds. 3rd test is usually telling. Up down or sideways....
Well they finally fired their crappy CEO and hired Brian Niccol. If anybody can resurrect Starbucks its the Chipotle CEO.
I had no idea, a change of CEO would be greeted so bullish. I think the bottom is in for now. Or at least until the honeymoon phase is over. It is probably a good rotation out of tech stock too.