|
Starbucks loses $11 billion amidst boycotts due to its support for Israel
![IndiaTimes]()
Thursday, 7 December 2023
Seattle-based Starbucks Corporation loses $11 billion in value, erasing 9.4% of total value due to slowing sales and subdued response to holiday season's offerings. Boycotts at the Seattle-based chain, sparked by a tweet expressing solidarity with Palestinians, have deep roots and signal challenges for the company's future. Stocks decline for 12 consecutive sessions, longest streak since going public in 1992, currently at $95.80 per share. Starbucks denies wrongdoing but faces challenge of maintaining brand reputation amid divisive global issues.
|
|
Thursday, 7 December 2023
