Pinterest Stock Is Up Over 100% Since an Activist Firm Took a Large Stake. That Same Activist Reportedly Now Has a Large Stake in Starbucks.
On July 19, The Wall Street Journal reported that activist investment firm Elliott Investment Management had purchased a sizeable (but unspecified) stake in coffee giant (NASDAQ: SBUX). Over the last five years, Starbucks stock is down almost 16%. This lackluster performance is something that Elliott hopes to help correct.
Investors may wonder what to expect from Elliott next. While there's no way to be certain what its involvement will look like, investors can look to what it has done in the past with other companies it took stakes in. And one recent success story is image-centric social media platform Pinterest (NYSE: PINS).
In July 2022, Elliott took a 9% stake in Pinterest. At the time, its stock was worth less than $20 per share. Today, it trades at more than $40 per share.
Source Fool.com
Starbucks Corp. Stock
The stock is an absolute favorite of our community with 23 Buy predictions and no Sell predictions.
As a result the target price of 98 € shows a positive potential of 43.7% compared to the current price of 68.2 € for Starbucks Corp..
