Cramer Is Bearish On Starbucks (SBUX)
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On Mad Money last night, Jim Cramer talked about Starbucks (Nasdaq: SBUX) and explained why he thinks it is a sell right now. He said, Starbucks isn't a growth stock any more and suffers from a bad case of multiple contraction.
Further, Cramer said, Starbucks once was an amazing growth story, but that was in the past. He also noted, investors might think Starbuck's current price is a good time to buy, but he says SBUX is heading lower.
He actually said don't buy until Starbucks at least crosses the $16 level. Starbucks closed at $22.61 Tuesday.
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Further, Cramer said, Starbucks once was an amazing growth story, but that was in the past. He also noted, investors might think Starbuck's current price is a good time to buy, but he says SBUX is heading lower.
He actually said don't buy until Starbucks at least crosses the $16 level. Starbucks closed at $22.61 Tuesday.
Sign up at EasyStockAlerts for free to see your stock news before it breaks to the rest of the public!
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