Starbucks Jumps as Activist Investor Bill Ackman Builds Stake
Starbucks (SBUX) shares jumped to the highest level in more than five months Tuesday, pulling the stock into positive territory for the year, after activist investor Bill Ackman said he was building a stake in the coffee chain.
Ackman told Grant’s Interest Rate Observer Conference in New York that his hedge fund, Pershing Square Capital Management, now holds 15.2 million shares in the coffee chain, or $900 million.
That equates to roughly 1.4% position in the world’s biggest coffee chain, which he called “one of the greatest businesses in the world.”
Today's Trade of the Day | 10-10-18
ROKU Roku Inc. stock price declined to a level that offers solid risk reward (and probability). Game planning a new swing trade long using a $65 buy stop to trigger the new entry Profit target comes in at $74, with a stop loss on a close below $63.50.
Stocks to Trade | Wednesday Edition 10-10-18
Bullish Cash Flow Trades: PZZA, PAGS, NOV
Bearish Cash Flow Trades: aal, ip, lyb, stx, dhi, aa, sfix, ual, len, dal, hon, wdc, fast
New 20 Day Breakout: WMT, CVX, PCG, CBS, APA, MCD, PZZA
New 20 Day Breakdown: aal, ip, wb, stx, dwdp, dhi, aa, baba, sfix, ual, dal, luv, ea,
Double Normal Volume: AMRN, AAL, IP, MCHP
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