Starbucks shares dip for third consecutive day amid turbulent market

  • Stock Market News
Starbucks shares dip for third consecutive day amid turbulent market
Credit: © Reuters.

Starbucks Corp (NASDAQ: SBUX ).'s shares dipped by 2.16% to close at $93.10 on Thursday, marking a third consecutive day of losses for the company. This performance occurred during a turbulent trading session where the broader market also experienced declines, with the S&P 500 Index dropping by 1.64% to settle at 4,330.00, and the Dow Jones Industrial Average declining by 1.08% to end the day at 34,070.42.

Compared to some of its industry peers, Starbucks' performance was notably below par on Thursday. Shares of Coca-Cola (NYSE: KO ) Co. decreased by 1.54% to close at $57.54, PepsiCo (NASDAQ: PEP ) Inc.'s shares fell by 1.68% to finish at $175.38, while McDonald's Corp (NYSE: MCD ).'s shares also dropped by 2.16%, closing at $271.22.

The trading session saw an unusually high volume for Starbucks' shares, with 6.1 million traded compared to the 50-day average trading volume of 5.9 million.

Looking at the yearly performance, Starbucks' shares are currently trading $22.38 below their 52-week high of $115.48, achieved on May 1st, 2023.

This report is based on data provided by Dow Jones and FactSet and has been processed using automation technology.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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