Stock to Sell #6: Starbucks Corp. (SBUX)
Leading coffee retailer Starbucks Corporation (NASDAQ: SBUX) has done well by shareholders, doubling in price in one year. However, with the price of coffee dramatically increasing and close to a 13-year high, earnings are under pressure, according to S&P, which now rates the stock a “two-star sell.”Technically SBUX has broken its bullish support line, received a sell from the stochastic, and is close to issuing a “death cross.” It is time for holders of Starbucks to cash in their profits.
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