Starbucks Stock Sees Longest Losing Streak Ever Amid Boycotts Over Israel, Palestine War
Portfolio Pulse from Aaron Bry
Starbucks Corp (NASDAQ:SBUX) ended a 13-day losing streak, its longest since 1992, with a slight uptick in stock price. The decline was attributed to a 'material decline' in November sales, as noted by JPMorgan Chase analysts, amid boycotts over the company's alleged support of Israel in its conflict with Palestine. The boycotts were fueled by a statement from the Starbucks Union supporting Palestine and a subsequent lawsuit by Starbucks against the union. The hashtag #boycottStarbucks has over 50 million views on TikTok. Additionally, the Starbucks Workers United union organized a walkout during a major promotion. Starbucks' market cap has dropped by over $10 billion, with the stock down over 10% since Nov. 17.

December 06, 2023 | 9:53 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Starbucks Corp's stock has seen a significant decline due to boycotts and union disputes related to the Israel-Palestine conflict, but a recent uptick suggests investor interest may be returning.
While the stock has faced a downturn due to negative publicity and boycotts, the recent uptick indicates that investors might be viewing the lower stock price as a buying opportunity. However, the ongoing social and legal issues could continue to impact investor sentiment and sales, making the short-term outlook uncertain.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100