Wednesday, November 28, 2007
"Mad Money" Cramer Sees Price of Starbucks Going Lower
Shareholders of Starbucks (SBUX-$22.61) need to wakeup and smell the decline in market value of the specialty coffee retailer.
Jim Cramer told viewers of his "Mad Money" show on Tuesday that Starbucks "once was a fantastic growth story, but the key word here is was."
Affirming what we posted about Starbucks yesterday, Cramer informed his CNBC audience: "at first glance, people might see the current price as a good entry point for Starbucks, but [he] sees the stock going lower."
He went as far as to say the stock should not to be owned until it goes well below $16.
Hungry? Say hello to a Premium Roast Coffee at McDonald’s—a worthy companion to a tasty McGriddles Sandwich!