Just when you thought it might be safe to go back in the water. This SBUX is bouncing down the stairways. No matter how many investment bankers the 'buy" with fees for coverage, it is just coffee with a weak management team who cannot make their #s.
Starbucks is up two dollars today after its earnings report. It has received two upgrades from J.P. Morgan and a strong buy recommendation from Pacific Crest. Starbucks stock was hit by the news that it had ambitious plans to open up a lifesyle portal in a conference call on July 3. The stock lost over 25% on one day in early July. In yesterday's eanings report, Howard Schulz (the CEO) said that the company will abandon most of its internet plans and refocus on what makes Starbucks great- coffee. The addictive nectar of the gods. Starbucks did what it needed to do to succeed and please investors by cuting off its internet division to concentrate on coffee. I've personally visited and often frequented six different Starbucks in the San Diego area and I'm amazed. No matter what time of day, there is always a crowd in a Starbucks. A recently opened Starbucks in Poway is already bringing in the happy customers. Great profits are made by buying great stocks that are temporarily out of favor. Starbucks is a great buy, look for a decent run up. I'm in.
Please, please, please DO NOT COVER your short anytime soon. You need a good dose of losing your sorry ass in order to rid us of your BS. Have fun when you join our old friend Putz in the poor house. Take good advice and work on the sorry souls over on the Amazon board. We're too smart for your crap!