Why Starbucks Stock Popped Tuesday Morning, While Chipotle Stock Slumped
SBUXStarbucks(SBUX) The Motley Fool·2024-08-13 23:47

The coffee purveyor poached a superstar CEO to manage its turnaround.Shares of Starbucks (SBUX 20.61%) roared out of the gate on Tuesday, surging as much as 23.7%. As of 11:19 a.m. ET, the stock was still up 22.7%. At the same time, Chipotle Mexican Grill (CMG -9.70%) stock sank as much as 14.1% but was recently down 11.8%.The catalyst that sent these high-profile names in the restaurant industry in different directions was news that nobody saw coming -- that Starbucks had poached Chipotle's superstar leade ...