I feel no sadness about struggles at Starbucks. Very telling about the state of the economy though.
___The collapse of Starbucks is insane:
Starbucks' CEO went on LIVE TV attempting to revive the stock.
He says, "it was a very tough quarter due to pressures on customers, China, and challenges of the business in the Middle East also impacting us in other geographies."
The worst part?
When he was asked why they did not preannounce such a horrible quarter he says, "we were working on action plans."
As he was talking throughout the 10 minute interview, the stock went down another 5% in REAL TIME.
Starbucks stock, $SBUX, closed the day 16% lower and has erased ~$35 BILLION in value since its all time high.
https://twitter.com/KobeissiLetter/status/1785999694184714693
@OneStopPatriot
