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Starbucks Investors Throw in the Towel
The Yahoo Message board for Starbucks (SBUX) is filled with gloom and doom as the stock attempts to test its 2008 lows.
It’s been nothing but down for Starbucks for several years and the recent intensifying selling in the overall markets has added to the pressure.
Some posters are calling for $2 a share (the stock is currently just over $8.)
Others say $4 for coffee isn’t going to fly in this economy when McDonalds and others offer the same product for cheaper.
Some optimists point to the powerful Starbucks name and brand, both in the US and Europe, as a sign of future growth.
Still, the company turnaround seems far off given the overall economy. And investors are so gloomy they seem to be throwing in the towel.
Is the gloom actually calling the bottom for Starbucks shares?
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