Jim Cramer pushed Starbucks (SBUX) throughout 2006 citing strong overseas growth, especially from a growing presence in China, but the stock couldn't push past 40 as worries about decelerating domestic growth and a weakening brand presence frequented the news. Cramer went bearish on Starbucks (SBUX) at the beginning of 2007 and has stayed negative, saving viewers from a 28% decline during a drop from nearly 35 to 27, where the stock sits today. Jim often includes Whole Foods Market (WFMI) as another former high growth darling that should not currently be owned. Howard Schultz, billionaire Chairman and Founder of Starbucks, has been a friend of the Mad Money show, appearing four times as a guest.
Wednesday, August 15, 2007
Cramer Stays Bearish on Starbucks (SBUX)
posted by stockTagger on 8/15/2007
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