Starbucks CFO is out - another reason to bearish on this company?

EthanR answered one year ago …

SBUX is a great example of "it's not what you buy, it's when you buy it that matters". The downtrend on this stock has been unbelievable, and yet if you bought some around $9 and sold near $13 last week you made a heck of a profit!

CFO leaving? Not usually a good sign, but it depends. Was it sudden and not previously announced? That's a negative. Or had it been known for awhile and a successor already in place. People do retire or take other jobs without it meaning the company is going to collapse. Check the dates to see if/when he sold his stock shares. If he still hasn't sold, then I would think that's a good sign.

I think most of the risk is already out of this stock. Seems like a lot of people are still going there. Remember that Wall street looks 6-12 months ahead and can rally in the middle of a recession. So don't get caught in the trap of looking at today's headlines and thinking a stock like SBUX will continue to go lower. If it double bottoms around 9 and doesn't take out the old lows, I would think it would be a good opportunity to buy. If it does take out the old low, then all bets are off and who knows where the bottom will be.