Starbucks Loses USD11 Billion in Market value Amid Boycott
![Starbucks Loses USD11 Billion in Market value Amid Boycott](https://business.seatoday.com/images/20231227110637_original_47.webp )
SEAToday.com, Jakarta - The mega coffee chain company Starbucks has lost approximately USD 11 billion in market value over the last month, erasing 9.4 percent of the company’s total value.
In a span of 19 days since November 16, coinciding with the company’s Red Cup Day promotion, Starbucks’ shares plummeted 8.96 percent amid analysts' reports of slowing sales and a subdued response to holiday season offerings. This market downfall sets a new record, with Starbucks facing a decline in stocks for 12 consecutive sessions.
Starbucks is also facing a boycott by the pro-Palestine supporters over the conflict in Gaza, following a social media post from the Starbucks Workers United. The company sued the union, representing a faction of its baristas, over the union’s post expressing solidarity with Palestinians.
Recommended Article
State Owned Enterprise
SOEs Ministry Tries Out Four Days in Workweek System
The State-Owned Enterprises (SOEs) Ministry is testing the implementation of a four-day workweek. This was shared on Instagram @lifeatkbumn on Saturday (6/8).
SOE Minister Erick Thohir Assures No Layoffs in Angkasa Pura Merg...
SOE Minister Erick Thohir confirmed that there would be no layoffs in the merger process of PT Angkasa Pura I and Angkasa Pura II.
ESG
5 Simple Steps for Sustainable Lifestyle
Five practical ways to embark on a sustainable lifestyle.
Practical Tips for Household Waste
Sorting household waste is an essential step towards reducing waste generation and promoting environmental sustainability.
Understanding Non-Organic Waste
Non-organic waste refers to discarded materials that are difficult to decompose.
Cash for Trash: Turning Used Plastic Bottles into Rewards
Reverse Vending Machine (RVM) merupakan mesin untuk melayani penukaran botol plastik di fasilitas umum dengan menggunakan sistem poin lewat aplikasi Plasticpay.
Popular Post
Top 10 SOEs on 2024 Fortune Southeast Asia 500, Telkom Indonesia...
A total of 20 state-owned enterprises (SOEs) are listed in the Fortune Southeast Asia 500 2024. Indonesia’s largest telecommunications company Telkom Indonesia (@telkomindonesia) was also included in the top 10 list
Trade Ministry Ready to Support Freeport’s Second Smelter in Gres...
The Trade Ministry is ready to support PT Freeport Indonesia (PTFI) ahead of the operation of its second smelter in Gresik, East Java.
Minister Airlangga: VAT to Increase to 12 Pct. Starting 2025
Minister Airlangga said VAT to Increase to 12 Pct. Starting 2025