https://www.newsweek.com/starbucks-market-loss-boycotts-strikes-red-cup-day-1849713

  • lps2@lemmy.ml
    ·
    7 months ago

    Gonna doubt that as their overall revenue for last year was ~$32b

      • lps2@lemmy.ml
        ·
        7 months ago

        That's in market cap, that's very different than losing $11b and if you zoom out you'll see it's a blip on the radar in terms of their stock price with no clear correlation to the war

        • Ultimate Communist@lemmygrad.ml
          ·
          7 months ago

          Within the span of 19 calendar-days, since its November 16 Red Cup Day promotion, shares of Starbucks have plummeted 8.96 percent, which equates to a nearly $11 billion loss, amidst analysts' reports of slowing sales and a subdued response to the holiday season's offerings.

          • lps2@lemmy.ml
            ·
            7 months ago

            ....you're proving my point - this has nothing to do with the war in Gaza and everything to do with low Q4 consumer spending and ridiculous expectations that jumped the stock by as much or more in November. They aren't even down to where they were just over a month ago