Starbucks Tumbles

In May, I listed 13 stocks to avoid. Recently, Chipotle ($CMG) got slammed and now another one on the list has been trapped by the bears. This time it’s Starbucks ($SBUX). Last week, the company’s earnings missed expectations and guidance was poor. Wall Street had been expecting 2013 EPS of $2.28. Starbucks said it will only be as high as $2.14.

The stock got slammed for a 9% loss on Friday. It dropped another 1% yesterday and three more percent today. Starbucks is down more than 17% since I first put it on my stocks to avoid list 11 weeks ago. Netflix ($NFLX) is down more than 26% and Chipotle is off by 28%.

Posted by on July 31st, 2012 at 3:56 pm

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