Why Shares of Starbucks are Down Today
Shares of Starbucks (NASDAQ: SBUX) opened sharply lower on Thursday, as growing concerns about the effects of the novel coronavirus pandemic on businesses and the economy drove a broad-based market sell-off.
As of 11 a.m. EDT, Starbucks shares were down about 7% from Wednesday's closing price.
Like just about every business with a retail presence, Starbucks is exposed to the growing likelihood that customer foot traffic will decline sharply as people stay home to try to slow the spread of COVID-19.
Source Fool.com