Starbucks reports no impact from the recent surge of inflation
Today's closing share price of $87.27 is a round trip back to March 26, the day it was announced that Howard Schultz was returning to Starbucks. On the day the news broke of Shultz's return, the stock gapped up 5.2% to close at $87.41. Through April 4, the stock continued to rise a total of 10% to $91.49 when Shultz announced the suspension of the share repurchase plan. Shares gapped down 3.7% to $88.09 on that news and continued to decline reaching a 52 week low of $68.39 on May 12. Shares have made a steady recovery from the May 12 low that is in line with the turn in the S&P 500. Yesterday's positive earnings call showed that inflation has not slowed customer demand and the impact of union organizing is negligible.
If you are a Starbucks partner using the Employee Stock Purchase Plan you bought your most recent shares on June 30 at $72.57. That price is 6.1% off the 52 week low set on May 12 and at today's close is a gain of 14.7%. Nice trade!
Post a Comment