Starbucks Stock Set to Rally on New Investor Stake
SBUXStarbucks(SBUX) Schaeffers Investment Research·2024-08-12 21:17

Starbucks Corp (NASDAQ:SBUX) stock is up 2.5% to trade at 77premarket,afterTheWallStreetJournalreportedactivistinvestorStarboardValuetookastakeinthecompanytoraisesharevalue.Theequityhasbeenstrugglingsincemarkingitsworstdaysince2020backinMay,afteralacklusterearningsreport.The60daymovingaveragehasalsobeenaconsistentlevelofpressure,guidingthesharestotheirJuly16,twoyearlowof77 premarket, after The Wall Street Journal reported activist investor Starboard Value took a stake in the company to raise share value.The equity has been struggling since marking its worst day since 2020 back in May, after a lackluster earnings report. The 60-day moving average has also been a consistent level of pressure, guiding the shares to their July 16, two-year low of 71.55. While SBUX has since edged higher, it still carries a 21% year-to ...