Cramer Reacts To Starbucks Losing Top Spot In China To Luckin Coffee -

Cramer Reacts To Starbucks Losing Top Spot In China To Luckin Coffee

Nov 21, 2023Jeremy ParkinsonFinance, No picture0

Starbucks Corp (SBUX) is in focus today following a report that it is no longer the largest coffee chain in China in terms of sales.Unsplash Jim Cramer shares his view on Starbucks stockThe multinational has lost that title to Xiamen-headquartered Luckin Coffee, as per the Wall Street Journal. With close to 11,000 stores in China, it is now the country’s biggest and fastest-growing chain of coffeehouses.But famed investor Jim Cramer remains bullish as ever on “SBUX”.He’s convinced that the Nasdaq-listed firm still has a massive opportunity in its second-largest market – and said he’d invest in Starbucks “hand over fist” because it’s a premium brand which means “no price competition”. What matters more than the total number of stores, as per the Mad Money host, is the “money they make” on each cup sold in China.More By This Author:Salesforce Offers Matching Compensation To OpenAI Researchers
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