Starbucks' market value drops by $12 billion
Starbucks stock has been on a 12-day losing streak, the longest losing streak in the company's history dating back to 1992. ✔️Data showed that the stock fell from $107.21 per share on November 16 to $95.54 on December 5. ✔️Bloomberg said that the stock fell 1.6% on Monday, December 4, falling for the 11th straight session in the longest decline since the coffee giant's emergence. ✔️The agency added that the company's market value fell 9.4%, a decline of about $12 billion. ✔️Bloomberg quoted Wedbush Securities Inc. analyst Nick Setian as saying that investors are concerned that sales in the United States may not meet consensus expectations in the current quarter. ✔️The American website Newsweek reported that the recent weeks for Starbucks have been full of turmoil, such as boycotts, employee strikes, and holiday promotions, which led to a decline in market value. Source: ICAD 12/08/2023