It's been tough to be a (NASDAQ: SBUX) shareholder lately. The 19% pullback from April's high leaves the stock a frustrating 26% below its 2021 peak, versus the S 500's breakeven for that same two-year stretch. Yikes.

Blame the overall environment, mostly. Everything that could be working against Starbucks' business seems to be doing so, ranging from labor turmoil to high costs to general economic malaise. The broad market itself hasn't exactly been firing on all cylinders lately either, leaving Starbucks stock without much of a tailwind.

As time marches on, however, it's becoming clearer that a global recession isn't a foregone conclusion. It's increasingly looking like the global economy will instead experience a so-called "soft landing," easing its way back into economic prosperity. The landing could be so soft, in fact, that we won't even realize it's happening until well after the fact. Ditto for a major market bottom.

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Source Fool.com