Starbucks shares dip for third consecutive day amid turbulent market

Starbucks Corp (NASDAQ:).’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 dropping by 1.64% to settle at 4,330.00, and the 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:) Co. decreased by 1.54% to close at $57.54, PepsiCo (NASDAQ:) Inc.’s shares fell by 1.68% to finish at $175.38, while McDonald’s Corp (NYSE:).’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.

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