Starbucks Corp (NASDAQ:SBUX) experienced its third consecutive day of losses, with shares slipping by 2.16% to close at $93.10 on Thursday. This decline unfolded within a turbulent trading environment, characterized by broader market downturns. The S&P 500 Index descended by 1.64% to settle at 4,330.00, while the Dow Jones Industrial Average dipped by 1.08%, closing the day at 34,070.42.
In contrast to several industry peers, Starbucks’ performance on Thursday was notably lackluster. Coca-Cola (NYSE:KO) Co. witnessed a 1.54% drop, concluding at $57.54, while PepsiCo (NASDAQ:PEP) Inc. saw a 1.68% decline, finishing at $175.38. McDonald’s Corp (NYSE:MCD) also experienced a 2.16% reduction, with shares closing at $271.22.
The trading session for Starbucks was marked by an unusually high volume, with 6.1 million shares traded, surpassing the 50-day average trading volume of 5.9 million.
A glance at the annual performance reveals that Starbucks’ shares currently trade $22.38 below their 52-week high of $115.48, achieved on May 1st, 2023.
