They had 'silly numbers' as an analyst commented their latest results.
Starbucks Corporation (SBUX)' third-quarter operating income increased 25% to $615.2 million, or $0.55 per share. Total sales jumped 13% to $3.7 billion. Global comparable-store sales increased 8%, with 7% of that made up of all-important traffic growth. Lower costs, for example for coffee, also fed into the cafe giant's improved profitability.
More and more people buy the overpriced, bitter and burnt Starbucks coffee.
And sometime last year I could see the potential of Starbucks; the recession was over, most people were safe about their jobs so let's enjoy life as they could.
My strategy was to double my position in Starbucks in small steps until the price hit around $70. And once the stock got to $100 I would have sold half of it. So I started buying at around $55-60, increased my position by 20% and all the sudden the stock started sliding and got dangerously close to my average price of $47. I could not stomach any longer and started selling back what I had acquired recently until I had the same number of shares I started with before I had decided on the 'strategy' of doubling SBUX,
And now the stock is $73!