Hello folks. Having been an enthusiastic consumer of Starbucks products wherever I find their stores, I have since I began investing wished I could find a good entry point to buy a chunk of the stock. I watched the mass-dumping of SBUX at the beginning of July, and so SBUX has been casually on my radar screen since then. With the predictable weakness following the summer sell-off, followed by the equally expected October general market weakness, I decided recently that the time had come to become a shareholder in SBUX. I bought at $22.
Now I'm looking at the 120 day chart, and today at $27 the stock sits at the bottom end of a massive gap between here and ~$35. Amazingly, the stock has churned through the truly *massive* volume of the mass-dump in the summer.
I'm wondering how hard or easy it will be to go up into the gap. It's an interesting chart.
I have a personal espresso machine which gets lots of use, but I still like to stop at Starbucks, just because their stores are so hip, and their products always good. The Brand has been cultivated and nurtured along, and the near-universal appeal is just amazing to behold. It gives me great pleasure to be able to drink Starbucks coffee on airlines, and now the small company I work for even has Starbucks office coffee service in our sales offices.
It seems to me that this company is a no-brainer growth company for the foreseeable future, and I'm happy to finally be on board.
Regards,
Dwight |
