Starbucks gets a new CEO and it reminds me of JC Penney many moons ago

[fstp, logo, header] August 13, 2024 [ag views, logo, header] Starbucks gets a new CEO and it reminds me of JC Penney many moons ago Starbucks Corp (Ticker: SBUX) is the most successful coffee company in the world but lately has fallen on hard times as consumers stop spending $6.00 on a cup of coffee. I remember my Chicago days getting a tall black coffee in the Van Buren SBUX shop for $1.25. Sadly when I went back to Chicago that shop was no longer there. I think the issue happening with Walgreens Boot Alliance (Ticker: WBA) in the great American city is hurting retailers with small storefronts and is spilling to SBUX. [ded] SBUX 6 month chart SBUX got a new shiny CEO from Chipotle Mexican Grill Inc (Ticker: CMG) and he is supposed to engineer a turnaround. Ok,maybe but really SBUX needs to charge less for coffee and compete with Mcdonalds Corp (Ticker: MCD). This is reminiscent of JCPenney Crop paying the Apple Inc Marketing guy for a JCP turnaround. That announcement and squeeze was a near term top and ended up being a multiyear high. JCP is not a listed stock anymore. SBUX does not have the dire straits JCP did but this story sounds very familiar. It would not surprise me to see SBUX give up half these gains in a few weeks. - AG  [logo, pit profits] Want to find YOUR winning fit? Give our Customer Care Team a call at [1-888-872-3301](tel:/1-888-872-3301) Monday-Friday from 9 a.m. - 5 p.m. EST. Or email them anytime at [support@optionpit.com](mailto:/support@optionpit.com)  [fprm] No Coal For You! Hey Influence Traders, Election season is in full swing. It’s getting wild out there. Harris is running on … Trump’s platform. Elon might have a position in a Trump administration. The next 80+ days are going to be a hoot. In the meantime, the Biden Administration is slipping away into obscurity, but hopes to make some impacts before it goes. Biden wants to seal his legacy as the Climate Change president. He came in three years ago with a big green push and is set to go out the same way. The administration announced that it will put $1.7 billion toward 11 projects to bolster domestic manufacturing of electric cars, trucks, buses and motorcycles. Companies like Fiat Chrysler (Ticker STLA), General Motors (Ticker: GM), and Volvo (Ticker VLVLY) will receive funds to convert their facilities to make electric vehicles. The money is being distributed from the Inflation Reduction Act. The administration intends to invest in facilities that recently closed or were at risk of closing because … it is election season. The administration has also proposed new regulations that would significantly restrict coal mining and coal-fired power plants in the United States. That is another blow to an already beleaguered coal industry. But coal mining and coal-fired power generation become more challenging, natural gas could benefit, particularly in the short-term, as it is seen as a cleaner power alternative. Let’s see who might win or lose under this latest round of Biden’s climate agenda. [Pivot to Gas]( - Frank --------------------------------------------------------------- Get all your DC Insider info inside of Frank Gregory's "Power Moves" Newsletter. [Click this link to sign up!]( --------------------------------------------------------------- Don't miss when our traders go live! Get an alert everytime we open the live rooms to all of our readers for free by selecting the calendar you use below. 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